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

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have received a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $19.70.

Several brokerages recently issued reports on BTDR. HC Wainwright restated a “buy” rating and issued a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Rosenblatt Securities reduced their price target on shares of Bitdeer Technologies Group from $25.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Needham & Company LLC lowered their price objective 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. Northland Securities boosted their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, Benchmark lowered their price target on Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BTDR. Quarry LP purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $42,000. Stonebridge Financial Group LLC acquired a new stake in Bitdeer Technologies Group in the fourth quarter valued at approximately $65,000. Public Employees Retirement System of Ohio purchased a new position in Bitdeer Technologies Group in the third quarter worth approximately $66,000. SBI Securities Co. Ltd. acquired a new position in Bitdeer Technologies Group during the 4th quarter worth approximately $79,000. Finally, Wells Fargo & Company MN grew its holdings in Bitdeer Technologies Group by 56.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock worth $93,000 after acquiring an additional 1,540 shares in the last quarter. 22.25% of the stock is owned by institutional investors and hedge funds.

Bitdeer Technologies Group Stock Up 3.3 %

NASDAQ:BTDR opened at $7.62 on Friday. Bitdeer Technologies Group has a 52 week low of $5.25 and a 52 week high of $26.99. The stock’s fifty day moving average is $10.55 and its two-hundred day moving average is $13.42. The company has a market capitalization of $853.18 million, a P/E ratio of -14.65 and a beta of 2.25.

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.