Bitdeer Technologies Group (NASDAQ:BTDR) Receives $17.20 Average Price Target from Brokerages

Bitdeer Technologies Group (NASDAQ:BTDR) has been given an average rating of “Buy” by the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $19.80.

A number of equities analysts recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Needham & Company LLC restated a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, November 19th. Alliance Global Partners assumed coverage on Bitdeer Technologies Group in a research report on Tuesday, October 8th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, Benchmark boosted their target price on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, December 9th.

Bitdeer Technologies Group Stock Performance

NASDAQ BTDR opened at $18.14 on Friday. Bitdeer Technologies Group has a one year low of $5.23 and a one year high of $25.51. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -34.88 and a beta of 2.27. The company’s 50-day simple moving average is $12.27 and its two-hundred day simple moving average is $9.67.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at $66,000. Centiva Capital LP purchased a new stake in Bitdeer Technologies Group in the third quarter valued at $91,000. Barclays PLC acquired a new stake in Bitdeer Technologies Group during the 3rd quarter worth about $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Bitdeer Technologies Group during the 3rd quarter worth about $169,000. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Bitdeer Technologies Group during the 2nd quarter valued at about $272,000. 22.25% of the stock is owned by institutional investors and hedge funds.

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.