Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective upped by stock analysts at Rosenblatt Securities from $22.00 to $30.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 84.50% from the company’s previous close.

A number of other equities analysts have also recently commented on BTDR. Roth Mkm lifted their price objective on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. 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 objective for the company. Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. B. Riley lifted their price objective on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Needham & Company LLC lifted their price target on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Eleven research 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 company presently has a consensus rating of “Buy” and a consensus target price of $22.23.

Bitdeer Technologies Group Stock Up 0.1 %

Shares of NASDAQ:BTDR opened at $16.26 on Wednesday. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99. The stock has a market capitalization of $1.82 billion, a P/E ratio of -31.27 and a beta of 2.04. The firm has a fifty day simple moving average of $19.64 and a two-hundred day simple moving average of $12.18.

Institutional Investors Weigh In On Bitdeer Technologies Group

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in 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 valued at $1,933,000 after buying an additional 182,110 shares during the period. Millennium Management LLC raised its holdings in shares of Bitdeer Technologies Group by 901.0% in the 2nd quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock valued at $4,210,000 after purchasing an additional 369,363 shares in the last quarter. Mirabella Financial Services LLP bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $5,872,000. Barclays PLC bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $161,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $220,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.