Bitdeer price target raised to $18 from $17 at H.C. Wainwright

H.C. Wainwright analyst Mike Colonnese raised the firm’s price target on Bitdeer (BTDR) to $18 from $17 and keeps a Buy rating on the shares. The company’s Q3 results fell short of estimates on weaker than expected hosting revenues and higher than expected costs associated with the development of the SEALMINER A2, the company’s second-generation proprietary mining rig series, which officially launched in October, the analyst tells investors in a research note. However, the firm says more important than the Q3 financial performance were the updates management provided on the call around the company’s newly launched ASIC business and self-mining expansion plans for 2025.