B. Riley Research Analysts Cut Earnings Estimates for BTDR

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

Other research analysts have also recently issued reports about the company. Rosenblatt Securities raised their price objective 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. Northland Securities lifted their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Benchmark lifted their target price on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods initiated coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They set an “outperform” rating and a $26.50 target price for the company. Finally, Roth Mkm lifted their target price on Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. 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, the company currently has a consensus rating of “Buy” and a consensus target price of $22.23.

Bitdeer Technologies Group Price Performance

Shares of BTDR stock opened at $16.58 on Friday. The stock’s fifty day moving average price is $19.86 and its 200 day moving average price is $12.39. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -31.88 and a beta of 2.04. Bitdeer Technologies Group has a 1-year low of $5.23 and a 1-year high of $26.99.

Institutional Trading of Bitdeer Technologies Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Stonebridge Financial Group LLC purchased a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at approximately $65,000. SBI Securities Co. Ltd. purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth approximately $79,000. Wells Fargo & Company MN increased its position in shares of Bitdeer Technologies Group by 56.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock worth $93,000 after purchasing an additional 1,540 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth approximately $116,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth approximately $171,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.