Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Raised to $14.00 at Northland Securities

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price boosted by equities research analysts at Northland Securities from $13.00 to $14.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Northland Securities’ price target would suggest a potential upside of 17.75% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Rosenblatt Securities reissued a “buy” rating and set a $9.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. HC Wainwright lowered their price target on Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Alliance Global Partners began coverage on Bitdeer Technologies Group in a report on Tuesday, October 8th. They set a “buy” rating and a $14.00 target price for the company. Finally, B. Riley reduced their price target on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $14.80.

Bitdeer Technologies Group Stock Up 3.0 %

Shares of Bitdeer Technologies Group stock opened at $11.89 on Tuesday. Bitdeer Technologies Group has a 52 week low of $3.91 and a 52 week high of $14.27. The stock’s 50-day simple moving average is $8.26 and its 200-day simple moving average is $8.09. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -22.87 and a beta of 1.92.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently bought and sold shares of BTDR. Vident Advisory LLC grew its position in Bitdeer Technologies Group by 186.4% during the first quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock worth $6,098,000 after buying an additional 565,362 shares during the period. Mirabella Financial Services LLP acquired a new position in Bitdeer Technologies Group during the third quarter worth approximately $5,872,000. D1 Capital Partners L.P. acquired a new position in Bitdeer Technologies Group during the second quarter worth approximately $5,386,000. Marshall Wace LLP acquired a new stake in shares of Bitdeer Technologies Group in the second quarter worth $5,074,000. Finally, Point72 Asset Management L.P. acquired a new stake in Bitdeer Technologies Group during the 2nd quarter valued at $4,617,000. 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.