Keefe, Bruyette & Woods Initiates Coverage on Bitdeer Technologies Group (NASDAQ:BTDR)

Investment analysts at Keefe, Bruyette & Woods initiated coverage on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research report issued on Monday, Marketbeat reports. The firm set an “outperform” rating and a $26.50 price target on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 58.97% from the company’s current price.

BTDR has been the subject of a number of other reports. Needham & Company LLC boosted their target price on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. HC Wainwright raised their target price on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Northland Capmk raised Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Alliance Global Partners began coverage on Bitdeer Technologies Group in a research note on Tuesday, October 8th. They set a “buy” rating and a $14.00 target price on the stock. Eleven 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.com, Bitdeer Technologies Group currently has an average rating of “Buy” and an average target price of $21.50.

Bitdeer Technologies Group Trading Up 7.3 %

BTDR opened at $16.67 on Monday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -32.06 and a beta of 2.09. Bitdeer Technologies Group has a 12 month low of $5.23 and a 12 month high of $26.99. The stock has a fifty day moving average price of $18.85 and a 200-day moving average price of $11.86.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of large investors have recently bought and sold shares of the company. Mirabella Financial Services LLP purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $5,872,000. Marshall Wace LLP purchased a new stake in shares of Bitdeer Technologies Group in the second quarter valued at approximately $5,074,000. Point72 Asset Management L.P. acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter valued at about $4,617,000. Millennium Management LLC lifted its holdings in Bitdeer Technologies Group by 901.0% in the second quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock valued at $4,210,000 after acquiring an additional 369,363 shares during the last quarter. Finally, State Street Corp acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at $1,510,000. Hedge funds and other 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.