Bitdeer Technologies Group (NASDAQ:BTDR) Trading Down 6.8%

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) traded down 6.8% during trading on Monday . The company traded as low as $5.89 and last traded at $5.92. 120,870 shares changed hands during trading, a decline of 93% from the average session volume of 1,695,085 shares. The stock had previously closed at $6.35.

Analyst Upgrades and Downgrades

BTDR has been the subject of several analyst reports. BTIG Research assumed 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 objective for the company. Benchmark reissued a “buy” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a report on Monday, April 15th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, March 26th. B. Riley assumed coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, March 12th. They set a “buy” rating and a $9.00 price target on the stock. Finally, Rosenblatt Securities started coverage on Bitdeer Technologies Group in a research note on Tuesday, April 9th. They set a “buy” rating and a $10.50 target price for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Bitdeer Technologies Group presently has an average rating of “Buy” and an average price target of $13.64.

Bitdeer Technologies Group Price Performance

The stock has a market capitalization of $679.66 million, a P/E ratio of -14.09 and a beta of 1.70. The firm has a 50-day simple moving average of $6.82 and a 200 day simple moving average of $6.45.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its 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). Bitdeer Technologies Group had a negative return on equity of 7.34% and a negative net margin of 15.37%. The business had revenue of $114.85 million for the quarter. Sell-side analysts anticipate that Bitdeer Technologies Group will post -0.07 earnings per share for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC bought a new position in Bitdeer Technologies Group during the 3rd quarter worth approximately $49,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Bitdeer Technologies Group during the third quarter worth $150,000. Vontobel Holding Ltd. bought a new position in Bitdeer Technologies Group during the fourth quarter worth $240,000. Swiss National Bank bought a new position in Bitdeer Technologies Group during the third quarter worth $604,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in Bitdeer Technologies Group during the fourth quarter worth $1,199,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.