B. Riley Research Analysts Cut Earnings Estimates for BTDR

Bitdeer Technologies Group (NASDAQ:BTDR) – Stock analysts at B. Riley decreased their FY2024 earnings per share (EPS) estimates for shares of Bitdeer Technologies Group in a note issued to investors on Wednesday, February 12th. B. Riley analyst N. Giles now forecasts that the company will earn ($0.63) per share for the year, down from their previous forecast of ($0.62). B. Riley currently has a “Buy” rating and a $24.00 target price on the stock. The consensus estimate for Bitdeer Technologies Group’s current full-year earnings is ($0.73) per share.

Several other research firms have also issued reports on BTDR. Rosenblatt Securities increased their target price on Bitdeer Technologies Group from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Needham & Company LLC increased their price target on Bitdeer Technologies Group from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Benchmark increased their price target on Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods initiated coverage on Bitdeer Technologies Group in a research report on Monday, January 27th. They issued an “outperform” rating and a $26.50 price target on the stock. Finally, HC Wainwright increased their price objective on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bitdeer Technologies Group presently has a consensus rating of “Buy” and an average target price of $22.23.

Bitdeer Technologies Group Trading Up 2.6 %

BTDR opened at $16.58 on Friday. The stock’s 50-day moving average price is $19.86 and its 200 day moving average price is $12.39. Bitdeer Technologies Group has a 12-month low of $5.23 and a 12-month high of $26.99. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -31.88 and a beta of 2.04.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Yong Rong HK Asset Management Ltd purchased a new position in Bitdeer Technologies Group during the 4th quarter worth approximately $65,010,000. Trivest Advisors Ltd purchased a new position in Bitdeer Technologies Group during the 4th quarter worth approximately $48,481,000. Van ECK Associates Corp acquired a new stake in Bitdeer Technologies Group during the 4th quarter worth approximately $29,125,000. Renaissance Technologies LLC lifted its position in Bitdeer Technologies Group by 3,558.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company’s stock worth $26,876,000 after acquiring an additional 1,206,361 shares during the period. Finally, Mirabella Financial Services LLP acquired a new stake in Bitdeer Technologies Group during the 3rd quarter worth approximately $5,872,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

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.