Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Raised to $15.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective raised by research analysts at Rosenblatt Securities from $12.00 to $15.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ price target indicates a potential upside of 6.46% from the company’s current price.

Other analysts have also issued research reports about the stock. Benchmark dropped their target price on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC dropped their target price on shares of Bitdeer Technologies Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods began coverage on shares of Bitdeer Technologies Group in a research report on Monday, January 27th. They set an “outperform” rating and a $26.50 price target on the stock. Roth Mkm restated a “buy” rating and set a $23.50 price target (down from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Finally, HC Wainwright restated a “buy” rating and set a $21.00 price target (down from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $19.80.

Bitdeer Technologies Group Stock Up 4.1%

Shares of NASDAQ BTDR opened at $14.09 on Monday. The company’s 50-day simple moving average is $9.68 and its 200-day simple moving average is $13.81. Bitdeer Technologies Group has a 52-week low of $5.25 and a 52-week high of $26.99. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -27.10 and a beta of 2.24.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently made changes to their positions in BTDR. Barclays PLC purchased a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $161,000. International Assets Investment Management LLC purchased a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $308,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $566,000. Stonebridge Financial Group LLC purchased a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $65,000. Finally, Van ECK Associates Corp purchased a new stake in Bitdeer Technologies Group during the 4th quarter worth approximately $29,125,000. 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 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.