Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up to $9.20

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $9.20, but opened at $9.50. Bitdeer Technologies Group shares last traded at $9.39, with a volume of 44,712 shares traded.

Analyst Upgrades and Downgrades

BTDR has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a report on Wednesday, May 15th. B. Riley began coverage on Bitdeer Technologies Group in a research note on Tuesday, March 12th. They issued a “buy” rating and a $9.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, June 11th. Finally, Rosenblatt Securities started coverage on shares of Bitdeer Technologies Group in a report on Tuesday, April 9th. They set a “buy” rating and a $10.50 price objective for the company. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Bitdeer Technologies Group has an average rating of “Buy” and a consensus target price of $13.56.

Read Our Latest Stock Analysis on BTDR

Bitdeer Technologies Group Price Performance

The stock’s fifty day moving average is $6.68 and its 200 day moving average is $7.21.

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) last released its earnings results on Monday, May 13th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.07). Bitdeer Technologies Group had a negative net margin of 11.21% and a negative return on equity of 3.98%. The company had revenue of $119.51 million for the quarter, compared to the consensus estimate of $119.12 million. On average, research analysts expect that Bitdeer Technologies Group will post -0.01 earnings per share for the current year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently made changes to their positions in BTDR. Nomura Holdings Inc. purchased a new stake in Bitdeer Technologies Group in the 4th quarter worth about $15,350,000. Van ECK Associates Corp raised its holdings in shares of Bitdeer Technologies Group by 10.5% in the first 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 period. Vident Advisory LLC lifted its stake 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 acquiring an additional 565,362 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Bitdeer Technologies Group by 83.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock valued at $5,265,000 after acquiring an additional 243,245 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in Bitdeer Technologies Group in the 4th quarter valued at $1,199,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

(Get Free Report)

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.

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