Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Expected to Rise, Benchmark Analyst Says

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price hoisted by research analysts at Benchmark from $16.00 to $29.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target would suggest a potential upside of 37.44% from the stock’s current price.

Several other equities analysts have also recently commented on the company. B. Riley cut their price target on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, October 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Northland Securities lifted their target price on shares of Bitdeer Technologies Group from $14.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday, November 19th. Finally, Roth Mkm lifted their price objective on Bitdeer Technologies Group from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $17.20.

Bitdeer Technologies Group Stock Performance

Shares of BTDR traded up $0.09 during mid-day trading on Monday, hitting $21.10. The company’s stock had a trading volume of 10,712,093 shares, compared to its average volume of 2,686,409. The stock’s 50-day moving average is $9.87 and its two-hundred day moving average is $8.81. Bitdeer Technologies Group has a one year low of $5.23 and a one year high of $22.86. The firm has a market capitalization of $2.36 billion, a PE ratio of -40.58 and a beta of 2.26.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently added to or reduced their stakes in BTDR. Public Employees Retirement System of Ohio bought a new position in Bitdeer Technologies Group during the 3rd quarter worth approximately $66,000. Centiva Capital LP acquired a new stake in shares of Bitdeer Technologies Group during the third quarter worth about $91,000. Barclays PLC bought a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Bitdeer Technologies Group during the 3rd quarter worth approximately $220,000. Institutional investors own 22.25% of the company’s stock.

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.