Bitdeer Technologies Group (NASDAQ:BTDR) Reaches New 12-Month High – Still a Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) shares reached a new 52-week high during trading on Friday . The company traded as high as $26.24 and last traded at $24.82, with a volume of 2209476 shares changing hands. The stock had previously closed at $24.46.

Analyst Ratings Changes

BTDR has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday, November 19th. Alliance Global Partners assumed coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price target for the company. HC Wainwright upped their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Roth Mkm upped their price target on Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, Rosenblatt Securities boosted their target price on shares of Bitdeer Technologies Group from $17.00 to $22.00 and gave the company a “buy” rating in a report on Friday, December 6th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bitdeer Technologies Group currently has a consensus rating of “Buy” and an average price target of $19.80.

Bitdeer Technologies Group Trading Down 3.3 %

The stock’s 50 day moving average is $14.03 and its 200-day moving average is $10.34. The company has a market cap of $2.65 billion, a P/E ratio of -45.48 and a beta of 2.27.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Bitdeer Technologies Group during the third quarter valued at $66,000. Centiva Capital LP purchased a new stake in Bitdeer Technologies Group in the third quarter worth approximately $91,000. Barclays PLC bought a new stake in Bitdeer Technologies Group in the 3rd quarter worth approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at $169,000. Finally, Y Intercept Hong Kong Ltd boosted its stake in shares of Bitdeer Technologies Group by 96.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock worth $347,000 after buying an additional 21,798 shares during the last quarter. Institutional investors own 22.25% of the company’s stock.

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.