Cantor Fitzgerald Reiterates “Overweight” Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a note issued to investors on Tuesday, Benzinga reports. They currently have a $13.00 price objective on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 121.84% from the stock’s current price.

Several other research firms have also weighed in on BTDR. Rosenblatt Securities reiterated a “buy” rating and issued a $9.00 price objective on shares of Bitdeer Technologies Group in a research note on Wednesday, August 14th. Roth Mkm reiterated a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, July 1st. B. Riley lifted their price objective on Bitdeer Technologies Group from $9.00 to $14.00 and gave the company a “buy” rating in a report on Friday, July 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, August 13th. Finally, Benchmark reiterated a “buy” rating and set a $16.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Bitdeer Technologies Group has a consensus rating of “Buy” and an average price target of $14.00.

Bitdeer Technologies Group Stock Performance

Shares of Bitdeer Technologies Group stock opened at $5.86 on Tuesday. The firm has a market cap of $656.12 million, a P/E ratio of -14.29 and a beta of 1.96. The firm’s 50-day simple moving average is $8.90 and its 200-day simple moving average is $7.58. Bitdeer Technologies Group has a twelve month low of $2.77 and a twelve month high of $14.65.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Bitdeer Technologies Group in the 2nd quarter worth approximately $272,000. XTX Topco Ltd acquired a new position in Bitdeer Technologies Group during the 2nd quarter worth $276,000. Symmetry Investments LP acquired a new position in Bitdeer Technologies Group during the 2nd quarter worth $432,000. Virtu Financial LLC acquired a new position in Bitdeer Technologies Group during the 1st quarter worth $431,000. Finally, Thomist Capital Management LP acquired a new position in Bitdeer Technologies Group during the 2nd quarter worth $1,156,000. 22.25% of the stock is 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.