Analysts Set Bitdeer Technologies Group (NASDAQ:BTDR) Price Target at $19.80

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have been given an average rating of “Buy” by the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $20.20.

A number of research firms have weighed in on BTDR. Alliance Global Partners initiated coverage on 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. 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. Northland Securities upped their price target on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday. Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, B. Riley upped their target price on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, December 19th.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ BTDR opened at $18.50 on Thursday. The business has a 50-day moving average of $16.64 and a 200-day moving average of $11.17. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -35.58 and a beta of 2.09. Bitdeer Technologies Group has a fifty-two week low of $5.23 and a fifty-two week high of $26.99.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Bitdeer Technologies Group in the second quarter valued at about $272,000. Thomist Capital Management LP bought a new stake in Bitdeer Technologies Group in the 2nd quarter valued at about $1,156,000. XTX Topco Ltd acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $276,000. Symmetry Investments LP bought a new position in shares of Bitdeer Technologies Group during the second quarter worth approximately $432,000. Finally, D1 Capital Partners L.P. acquired a new stake in shares of Bitdeer Technologies Group in the second quarter valued at approximately $5,386,000. Institutional investors own 22.25% of the company’s stock.

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.