Bitdeer Technologies Group (NASDAQ:BTDR) Given Average Rating of “Buy” by Brokerages

Bitdeer Technologies Group (NASDAQ:BTDR) has been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $22.23.

A number of research firms recently issued reports on BTDR. Benchmark lifted their target price on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, December 9th. 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. Rosenblatt Securities boosted their target price on shares of Bitdeer Technologies Group from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday. B. Riley raised their target price on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Needham & Company LLC upped their price target on Bitdeer Technologies Group from $14.00 to $22.00 and gave the company a “buy” rating in a report on Monday, January 13th.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $16.66 on Monday. Bitdeer Technologies Group has a 1 year low of $5.23 and a 1 year high of $26.99. The business’s fifty day moving average is $19.73 and its 200-day moving average is $12.21. The stock has a market cap of $1.87 billion, a PE ratio of -32.04 and a beta of 2.04.

Institutional Trading of Bitdeer Technologies Group

A number of hedge funds have recently modified their holdings of BTDR. Stonebridge Financial Group LLC purchased a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at $65,000. SBI Securities Co. Ltd. acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $79,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Bitdeer Technologies Group in the third quarter worth approximately $66,000. Valliance Asset Management Ltd acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth approximately $217,000. Finally, Centiva Capital LP purchased a new position in Bitdeer Technologies Group during the third quarter valued at approximately $91,000. 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.