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

Bitdeer Technologies Group (NASDAQ:BTDR) has been given an average recommendation of “Moderate Buy” by the twelve research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $24.1818.

A number of analysts have issued reports on BTDR shares. B. Riley reissued a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price target on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Wall Street Zen lowered Bitdeer Technologies Group from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Needham & Company LLC reissued a “buy” rating and issued a $17.00 price target on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a research note on Monday, September 15th.

Bitdeer Technologies Group Stock Down 13.3%

Shares of NASDAQ:BTDR opened at $17.78 on Friday. The stock’s 50-day moving average price is $15.17 and its two-hundred day moving average price is $13.01. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12. Bitdeer Technologies Group has a 12-month low of $6.72 and a 12-month high of $26.99. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -3.78 and a beta of 2.25.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of large investors have recently modified their holdings of the company. Voya Investment Management LLC raised its holdings in shares of Bitdeer Technologies Group by 421.6% in the 3rd quarter. Voya Investment Management LLC now owns 128,331 shares of the company’s stock worth $2,193,000 after purchasing an additional 103,730 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Bitdeer Technologies Group by 7,157.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock worth $83,000 after purchasing an additional 7,157 shares during the period. Vident Advisory LLC raised its holdings in shares of Bitdeer Technologies Group by 13.2% in the 2nd quarter. Vident Advisory LLC now owns 775,776 shares of the company’s stock worth $8,906,000 after purchasing an additional 90,762 shares during the period. Boothbay Fund Management LLC purchased a new position in shares of Bitdeer Technologies Group in the 2nd quarter worth about $332,000. Finally, Bank of America Corp DE raised its holdings in shares of Bitdeer Technologies Group by 67.5% in the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock worth $72,753,000 after purchasing an additional 2,553,093 shares during the period. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.