Bitdeer Technologies Group (NASDAQ:BTDR) Receives Consensus Recommendation of “Buy” from Analysts

Bitdeer Technologies Group (NASDAQ:BTDR) has earned an average recommendation of “Buy” from the eleven brokerages that are currently covering the company, MarketBeat.com reports. Ten equities 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 objective among analysts that have issued ratings on the stock in the last year is $17.20.

Several equities research analysts recently commented on the stock. Rosenblatt Securities boosted their price objective on shares of Bitdeer Technologies Group from $17.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Roth Mkm lifted their target price on shares of Bitdeer Technologies Group from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Needham & Company LLC restated a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, November 19th. Alliance Global Partners initiated coverage on Bitdeer Technologies Group in a research note on Tuesday, October 8th. They set a “buy” rating and a $14.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BTDR. Central Asset Investments & Management Holdings HK Ltd bought a new stake in Bitdeer Technologies Group in the 2nd quarter worth about $272,000. Thomist Capital Management LP bought a new stake in shares of Bitdeer Technologies Group in the second quarter worth approximately $1,156,000. XTX Topco Ltd purchased a new position in shares of Bitdeer Technologies Group during the second quarter valued at approximately $276,000. Symmetry Investments LP bought a new position in Bitdeer Technologies Group during the second quarter valued at approximately $432,000. Finally, D1 Capital Partners L.P. purchased a new stake in Bitdeer Technologies Group in the second quarter worth approximately $5,386,000. 22.25% of the stock is owned by institutional investors.

Bitdeer Technologies Group Trading Down 2.1 %

Shares of Bitdeer Technologies Group stock opened at $20.92 on Friday. Bitdeer Technologies Group has a 12 month low of $5.23 and a 12 month high of $24.68. The firm has a market capitalization of $2.34 billion, a P/E ratio of -40.23 and a beta of 2.27. The business has a fifty day simple moving average of $11.19 and a two-hundred day simple moving average of $9.29.

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.