Benchmark Reiterates “Buy” Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Benchmark reaffirmed their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research note published on Monday morning, Benzinga reports. Benchmark currently has a $13.00 price target on the stock.

A number of other equities analysts have also recently issued reports on the stock. HC Wainwright reissued a buy rating and set a $20.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, March 26th. Needham & Company LLC began coverage on Bitdeer Technologies Group in a research note on Monday. They issued a buy rating and a $14.00 price objective for the company. Rosenblatt Securities assumed coverage on Bitdeer Technologies Group in a research report on Tuesday, April 9th. They set a buy rating and a $10.50 target price on the stock. B. Riley initiated coverage on Bitdeer Technologies Group in a report on Tuesday, March 12th. They issued a buy rating and a $9.00 target price on the stock. Finally, BTIG Research started coverage on shares of Bitdeer Technologies Group in a research note on Wednesday, March 13th. They set a buy rating and a $15.00 price target for the company. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of Buy and an average target price of $13.64.

Bitdeer Technologies Group Stock Up 2.7 %

Bitdeer Technologies Group stock opened at $5.69 on Monday. The company has a market capitalization of $637.11 million, a PE ratio of -13.55 and a beta of 1.70. The firm’s fifty day moving average is $7.01 and its 200 day moving average is $6.53. Bitdeer Technologies Group has a 12-month low of $2.77 and a 12-month high of $14.65.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently bought and sold shares of BTDR. Nomura Holdings Inc. bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth $15,350,000. Van ECK Associates Corp grew its stake in Bitdeer Technologies Group by 196.2% in the 4th quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock valued at $10,848,000 after purchasing an additional 728,804 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Bitdeer Technologies Group by 83.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock valued at $5,265,000 after purchasing an additional 243,245 shares during the last quarter. EDBI Pte Ltd purchased a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at $3,444,000. Finally, Vident Advisory LLC raised its stake in shares of Bitdeer Technologies Group by 422.7% during the 4th quarter. Vident Advisory LLC now owns 303,260 shares of the company’s stock worth $2,990,000 after purchasing an additional 245,242 shares during the period. 22.25% of the stock is owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group operates as a technology company for the cryptocurrency mining community. It mines cryptocurrencies for its own account and serve the cryptocurrency mining community by providing cryptocurrency mining solution. The company handles various processes involved in mining, such as miner procurement, transport logistics, mining datacenter design and construction, mining machine management, and daily operations.