Bitdeer Technologies Group (NASDAQ:BTDR) Stock Rating Reaffirmed by Benchmark

Benchmark reissued their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research report sent to investors on Monday morning, Benzinga reports. Benchmark currently has a $13.00 price objective on the stock.

Several other equities research analysts also recently commented on the company. BTIG Research began coverage on Bitdeer Technologies Group in a report on Wednesday, March 13th. They issued a buy rating and a $15.00 target price on the stock. Rosenblatt Securities began coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, April 9th. They issued a buy rating and a $10.50 price target on the stock. B. Riley began coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, March 12th. They set a buy rating and a $9.00 price objective for the company. Roth Mkm started coverage on shares of Bitdeer Technologies Group in a report on Thursday, February 29th. They issued a buy rating and a $14.00 target price for the company. Finally, HC Wainwright reiterated a buy rating and set a $20.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, March 26th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Bitdeer Technologies Group has a consensus rating of Buy and a consensus price target of $13.64.

Bitdeer Technologies Group Stock Up 2.7 %

Shares of BTDR opened at $5.69 on Monday. The stock has a market cap of $637.11 million, a P/E ratio of -13.55 and a beta of 1.70. The business’s 50 day moving average price is $7.01 and its 200-day moving average price is $6.53. Bitdeer Technologies Group has a 52 week low of $2.77 and a 52 week high of $14.65.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. purchased a new stake in Bitdeer Technologies Group in the fourth quarter worth approximately $15,350,000. Van ECK Associates Corp increased its holdings in shares of Bitdeer Technologies Group by 196.2% in the fourth quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock worth $10,848,000 after purchasing an additional 728,804 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Bitdeer Technologies Group by 83.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock worth $5,265,000 after buying an additional 243,245 shares in the last quarter. EDBI Pte Ltd bought a new position in Bitdeer Technologies Group during the third quarter valued at approximately $3,444,000. Finally, Vident Advisory LLC grew its holdings in Bitdeer Technologies Group by 422.7% during the 4th quarter. Vident Advisory LLC now owns 303,260 shares of the company’s stock valued at $2,990,000 after buying an additional 245,242 shares in the last quarter. 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 the cryptocurrency mining community. It mines cryptocurrencies for its own account and serve the cryptocurrency mining community by providing cryptocurrency mining solution. The company handles various processes involved in mining, such as miner procurement, transport logistics, mining datacenter design and construction, mining machine management, and daily operations.