Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – Should You Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) gapped up before the market opened on Monday . The stock had previously closed at $7.53, but opened at $7.93. Bitdeer Technologies Group shares last traded at $8.25, with a volume of 1,115,993 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BTDR. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $9.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. Benchmark reiterated a “buy” rating and set a $16.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. HC Wainwright decreased their price objective on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, Northland Capmk upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $13.70.

Bitdeer Technologies Group Trading Up 10.8 %

The company has a market capitalization of $933.80 million, a PE ratio of -20.34 and a beta of 1.92. The firm’s 50-day simple moving average is $7.12 and its 200-day simple moving average is $7.64.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.06). Bitdeer Technologies Group had a negative net margin of 5.69% and a negative return on equity of 2.56%. The business had revenue of $99.23 million during the quarter, compared to the consensus estimate of $110.79 million. As a group, analysts anticipate that Bitdeer Technologies Group will post -0.31 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Central Asset Investments & Management Holdings HK Ltd acquired a new position in Bitdeer Technologies Group during the 2nd quarter valued at approximately $272,000. XTX Topco Ltd acquired a new position in Bitdeer Technologies Group during the 2nd quarter valued at approximately $276,000. Virtu Financial LLC acquired a new position in Bitdeer Technologies Group during the 1st quarter valued at approximately $431,000. Symmetry Investments LP acquired a new position in Bitdeer Technologies Group during the 2nd quarter valued at approximately $432,000. Finally, Shariaportfolio Inc. purchased a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at $1,039,000. 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.