Needham & Company LLC Reaffirms "Buy" Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Needham & Company LLC in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $14.00 price objective on the stock. Needham & Company LLC's price target points to a potential upside of 147.35% from the company's current price.

Several other research firms have also commented on BTDR. Rosenblatt Securities initiated coverage on Bitdeer Technologies Group in a research note on Tuesday, April 9th. They set a "buy" rating and a $10.50 price objective for the company. HC Wainwright reissued a "buy" rating and issued a $20.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday. Benchmark reaffirmed a "buy" rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. Roth Mkm started coverage on shares of Bitdeer Technologies Group in a report on Thursday, February 29th. They set a "buy" rating and a $14.00 target price for the company. Finally, BTIG Research initiated coverage on shares of Bitdeer Technologies Group in a research note on Wednesday, March 13th. They issued a "buy" rating and a $15.00 price target on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $13.64.

Bitdeer Technologies Group Stock Up 5.2 %

Shares of Bitdeer Technologies Group stock traded up $0.28 on Wednesday, reaching $5.66. The company's stock had a trading volume of 678,287 shares, compared to its average volume of 1,556,175. Bitdeer Technologies Group has a 52-week low of $2.77 and a 52-week high of $14.65. The company has a market capitalization of $633.75 million, a P/E ratio of -13.54 and a beta of 1.79. The stock has a 50-day moving average price of $6.50 and a 200-day moving average price of $6.61.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.15). The company had revenue of $114.85 million during the quarter. Bitdeer Technologies Group had a negative return on equity of 4.20% and a negative net margin of 11.21%. Sell-side analysts forecast that Bitdeer Technologies Group will post -0.07 earnings per share for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

A number of hedge funds have recently bought and sold shares of BTDR. Vident Advisory LLC increased its holdings in shares of Bitdeer Technologies Group by 186.4% during the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company's stock worth $6,098,000 after buying an additional 565,362 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Bitdeer Technologies Group by 10.5% during the 1st quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company's stock worth $8,537,000 after buying an additional 115,882 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $15,350,000. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $1,199,000. Finally, Vontobel Holding Ltd. purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $240,000. Institutional investors and hedge funds own 22.25% of the company's stock.

About Bitdeer Technologies Group

Bitdeer Technologies Group operates as a technology company for blockchain and computing. It offers hash rate sharing solutions, including Cloud hash rate and Hash rate marketplace; and a one-stop mining machine hosting solutions encompassing deployment, maintenance, and management services for efficient cryptocurrency mining; as well as mines cryptocurrencies for its own account.