B. Riley Has Optimistic Outlook of BTDR FY2024 Earnings

Bitdeer Technologies Group (NASDAQ:BTDR) – B. Riley increased their FY2024 EPS estimates for shares of Bitdeer Technologies Group in a research note issued on Wednesday, December 18th. B. Riley analyst L. Pipes now expects that the company will earn ($0.62) per share for the year, up from their prior estimate of ($0.68). B. Riley has a “Buy” rating and a $24.00 price objective on the stock. The consensus estimate for Bitdeer Technologies Group’s current full-year earnings is ($0.75) per share. B. Riley also issued estimates for Bitdeer Technologies Group’s Q4 2024 earnings at ($0.14) EPS, FY2025 earnings at $0.58 EPS and FY2026 earnings at $1.01 EPS.

Several other research firms have also commented on BTDR. Benchmark raised their price target on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Roth Mkm increased their price target on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Northland Capmk upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Northland Securities increased their target price on shares of Bitdeer Technologies Group from $14.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, HC Wainwright raised their price target on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $19.80.

Bitdeer Technologies Group Stock Performance

BTDR opened at $20.52 on Monday. The stock has a market capitalization of $2.30 billion, a PE ratio of -39.46 and a beta of 2.27. The business’s 50 day moving average price is $12.53 and its 200 day moving average price is $9.80. Bitdeer Technologies Group has a one year low of $5.23 and a one year high of $25.51.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new position in Bitdeer Technologies Group in the third quarter valued at $275,000. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $161,000. Geode Capital Management LLC increased its holdings in shares of Bitdeer Technologies Group by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock valued at $2,886,000 after acquiring an additional 46,968 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth about $66,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in Bitdeer Technologies Group by 96.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock worth $347,000 after purchasing an additional 21,798 shares during the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

About Bitdeer Technologies Group

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.