Bitdeer Technologies Group (NASDAQ:BTDR) Receives $14.80 Consensus Price Target from Brokerages

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have been given a consensus recommendation of “Buy” by the eleven research firms that are presently covering the firm, MarketBeat.com reports. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $14.80.

Several equities analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Alliance Global Partners began coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. They set a “buy” rating and a $14.00 target price for the company. Northland Capmk upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Roth Mkm boosted their price objective on Bitdeer Technologies Group from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, HC Wainwright raised their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th.

Bitdeer Technologies Group Price Performance

NASDAQ:BTDR opened at $11.16 on Wednesday. The firm has a market capitalization of $1.25 billion, a P/E ratio of -21.46 and a beta of 1.92. The business has a 50 day simple moving average of $8.63 and a 200 day simple moving average of $8.27. Bitdeer Technologies Group has a 12-month low of $4.12 and a 12-month high of $14.27.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BTDR. Vident Advisory LLC grew its stake in shares of Bitdeer Technologies Group by 186.4% in the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock worth $6,098,000 after purchasing an additional 565,362 shares during the last quarter. Virtu Financial LLC bought a new stake in Bitdeer Technologies Group during the first quarter worth approximately $431,000. Central Asset Investments & Management Holdings HK Ltd acquired a new position in Bitdeer Technologies Group in the second quarter worth approximately $272,000. Thomist Capital Management LP bought a new position in shares of Bitdeer Technologies Group in the second quarter valued at $1,156,000. Finally, XTX Topco Ltd acquired a new stake in shares of Bitdeer Technologies Group during the 2nd quarter valued at $276,000. 22.25% of the stock is owned by institutional investors and hedge funds.

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.