HC Wainwright Reaffirms “Buy” Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $21.00 target price on the stock, down from their prior target price of $22.00. HC Wainwright’s price objective points to a potential upside of 126.78% from the stock’s current price.

A number of other analysts have also recently weighed in on BTDR. Roth Mkm increased their target price on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. B. Riley raised their target price on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods assumed coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They set an “outperform” rating and a $26.50 target price on the stock. Needham & Company LLC upped their price target on Bitdeer Technologies Group from $14.00 to $22.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Benchmark upped their price objective on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bitdeer Technologies Group presently has an average rating of “Buy” and a consensus price target of $22.50.

Bitdeer Technologies Group Stock Performance

Shares of BTDR opened at $9.26 on Wednesday. Bitdeer Technologies Group has a one year low of $5.23 and a one year high of $26.99. The company has a market capitalization of $1.04 billion, a P/E ratio of -17.81 and a beta of 2.04. The stock has a 50-day moving average price of $18.78 and a 200 day moving average price of $12.81.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several institutional investors have recently made changes to their positions in BTDR. Public Employees Retirement System of Ohio increased its position in Bitdeer Technologies Group by 14.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 9,600 shares of the company’s stock worth $208,000 after buying an additional 1,200 shares during the last quarter. Two Seas Capital LP bought a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at $9,384,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Bitdeer Technologies Group by 118.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,254 shares of the company’s stock worth $1,327,000 after acquiring an additional 33,182 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at about $16,834,000. Finally, Vident Advisory LLC lifted its position in shares of Bitdeer Technologies Group by 29.7% during the fourth quarter. Vident Advisory LLC now owns 1,139,619 shares of the company’s stock worth $24,696,000 after purchasing an additional 260,649 shares in the last quarter. 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.