Rosenblatt Securities Reaffirms “Buy” Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating reiterated by stock analysts at Rosenblatt Securities in a note issued to investors on Monday,Benzinga reports. They presently have a $22.00 target price on the stock. Rosenblatt Securities’ price target points to a potential upside of 18.92% from the stock’s current price.

BTDR has been the subject of a number of other research reports. Alliance Global Partners began coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Northland Securities increased their price target on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Friday. Benchmark raised their price objective on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $21.00.

Bitdeer Technologies Group Trading Down 0.4 %

Shares of NASDAQ:BTDR opened at $18.50 on Monday. Bitdeer Technologies Group has a 12 month low of $5.23 and a 12 month high of $26.99. The company has a 50-day moving average price of $16.64 and a 200 day moving average price of $11.19. The company has a market cap of $2.07 billion, a price-to-earnings ratio of -35.58 and a beta of 2.09.

Hedge Funds Weigh In On Bitdeer Technologies Group

Institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new position in Bitdeer Technologies Group during the third quarter valued at approximately $66,000. Centiva Capital LP purchased a new position in Bitdeer Technologies Group during the third quarter valued at approximately $91,000. Barclays PLC purchased a new position in Bitdeer Technologies Group during the third quarter valued at approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Bitdeer Technologies Group during the third quarter valued at approximately $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Bitdeer Technologies Group during the third quarter valued at approximately $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.