Bitdeer Technologies Group (NASDAQ:BTDR) Receives Average Rating of “Buy” from Analysts

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have been given a consensus rating of “Buy” by the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. Ten research 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 brokers that have issued ratings on the stock in the last year is $19.80.

BTDR has been the subject of a number of recent analyst reports. Rosenblatt Securities raised their price objective on Bitdeer Technologies Group from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday. Needham & Company LLC lowered their price objective on Bitdeer Technologies Group from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Roth Mkm reissued a “buy” rating and issued a $23.50 price objective (down previously from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and issued a $21.00 price objective (down previously from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Finally, Benchmark reissued a “buy” rating and issued a $24.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Bitdeer Technologies Group during the 1st quarter valued at about $55,000. FengHe Fund Management Pte. Ltd. raised its stake in shares of Bitdeer Technologies Group by 178.2% during the 1st quarter. FengHe Fund Management Pte. Ltd. now owns 1,332,200 shares of the company’s stock valued at $11,763,000 after buying an additional 853,300 shares during the last quarter. Invesco Ltd. raised its stake in shares of Bitdeer Technologies Group by 37.9% during the 1st quarter. Invesco Ltd. now owns 26,702 shares of the company’s stock valued at $236,000 after buying an additional 7,345 shares during the last quarter. Swiss National Bank raised its stake in shares of Bitdeer Technologies Group by 136.8% during the 1st quarter. Swiss National Bank now owns 168,400 shares of the company’s stock valued at $1,487,000 after buying an additional 97,300 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Bitdeer Technologies Group by 198.3% in the 1st quarter. Deutsche Bank AG now owns 49,301 shares of the company’s stock valued at $435,000 after purchasing an additional 32,776 shares in the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Price Performance

Bitdeer Technologies Group stock opened at $14.43 on Wednesday. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -27.75 and a beta of 2.24. Bitdeer Technologies Group has a 1-year low of $5.25 and a 1-year high of $26.99. The business has a fifty day moving average price of $9.80 and a 200-day moving average price of $13.86.

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.