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

Bitdeer Technologies Group (NASDAQ:BTDR) has been given a consensus rating of “Buy” by the eleven research firms that are presently covering the company, MarketBeat.com reports. Ten analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $21.00.

A number of research analysts have issued reports on BTDR shares. HC Wainwright restated a “buy” rating and set a $21.00 target price (down previously from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods initiated coverage on Bitdeer Technologies Group in a research note on Monday, January 27th. They set an “outperform” rating and a $26.50 price objective on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $23.50 price target (down previously from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. B. Riley increased 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 dropped their target price on shares of Bitdeer Technologies Group from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th.

Bitdeer Technologies Group Stock Performance

BTDR stock opened at $11.65 on Tuesday. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99. The company has a market capitalization of $1.30 billion, a PE ratio of -22.40 and a beta of 2.12. The company’s 50-day simple moving average is $14.77 and its 200 day simple moving average is $13.33.

Institutional Trading of Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in Bitdeer Technologies Group during the 4th quarter worth approximately $42,000. Stonebridge Financial Group LLC acquired a new position in shares of Bitdeer Technologies Group during the fourth quarter worth $65,000. Public Employees Retirement System of Ohio acquired a new position in shares of Bitdeer Technologies Group during the third quarter worth $66,000. SBI Securities Co. Ltd. bought a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth $79,000. Finally, Centiva Capital LP acquired a new stake in Bitdeer Technologies Group in the third quarter valued at $91,000. 22.25% of the stock is currently owned by institutional investors.

Bitdeer Technologies Group Company Profile

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.