Bitdeer Technologies Group (NASDAQ:BTDR) Receives Buy Rating from Rosenblatt Securities

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a report released on Monday,Benzinga reports. They currently have a $22.00 target price on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 15.55% from the stock’s previous close.

A number of other research analysts have also issued reports on BTDR. Needham & Company LLC restated a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, November 19th. B. Riley increased their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Benchmark raised their price target on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, HC Wainwright boosted their price target on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $21.00.

Bitdeer Technologies Group Stock Performance

BTDR stock opened at $19.04 on Monday. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99. The company has a market capitalization of $2.13 billion, a PE ratio of -36.61 and a beta of 2.09. The company’s 50-day simple moving average is $17.07 and its 200 day simple moving average is $11.30.

Institutional Trading of Bitdeer Technologies Group

Several large investors have recently bought and sold shares of the business. Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of Bitdeer Technologies Group in the second quarter worth about $272,000. Thomist Capital Management LP acquired a new position in Bitdeer Technologies Group during the 2nd quarter worth approximately $1,156,000. XTX Topco Ltd bought a new position in Bitdeer Technologies Group in the 2nd quarter valued at approximately $276,000. Symmetry Investments LP acquired a new stake in Bitdeer Technologies Group in the second quarter valued at approximately $432,000. Finally, D1 Capital Partners L.P. acquired a new stake in Bitdeer Technologies Group in the second quarter valued at approximately $5,386,000. 22.25% of the stock is owned by institutional investors and hedge funds.

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.