Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Raised to $24.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price lifted by Northland Securities from $20.00 to $24.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also recently issued reports on BTDR. Northland Capmk upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Rosenblatt Securities raised their target price on Bitdeer Technologies Group from $17.00 to $22.00 and gave the company a “buy” rating in a report on Friday, December 6th. Needham & Company LLC reiterated a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Alliance Global Partners began coverage on Bitdeer Technologies Group in a research report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $20.20.

Bitdeer Technologies Group Stock Down 0.4 %

NASDAQ:BTDR opened at $18.50 on Friday. The company’s 50 day moving average is $16.64 and its 200-day moving average is $11.19. Bitdeer Technologies Group has a 12 month low of $5.23 and a 12 month high of $26.99. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -35.58 and a beta of 2.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Bitdeer Technologies Group by 281.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock worth $1,933,000 after purchasing an additional 182,110 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Bitdeer Technologies Group by 901.0% during the second quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock worth $4,210,000 after buying an additional 369,363 shares in the last quarter. Mirabella Financial Services LLP acquired a new stake in shares of Bitdeer Technologies Group during the third quarter worth approximately $5,872,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Bitdeer Technologies Group in the third quarter valued at approximately $220,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Bitdeer Technologies Group by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock worth $2,886,000 after acquiring an additional 46,968 shares in the last quarter. 22.25% of the stock is owned by institutional investors.

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.