Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Raised to $24.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective hoisted by B. Riley from $15.00 to $24.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

BTDR has been the topic of several other research reports. Northland Securities increased their target price on Bitdeer Technologies Group from $14.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. HC Wainwright increased their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, November 19th. Benchmark upped their target price on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Alliance Global Partners started coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price target for the company. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $19.80.

Bitdeer Technologies Group Price Performance

Shares of BTDR opened at $20.49 on Thursday. The company has a market capitalization of $2.29 billion, a P/E ratio of -39.40 and a beta of 2.27. Bitdeer Technologies Group has a one year low of $5.23 and a one year high of $25.51. The business’s 50 day simple moving average is $12.53 and its 200-day simple moving average is $9.78.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirabella Financial Services LLP bought a new position in Bitdeer Technologies Group during the third quarter worth about $5,872,000. D1 Capital Partners L.P. bought a new position in Bitdeer Technologies Group during the 2nd quarter worth approximately $5,386,000. Marshall Wace LLP acquired a new position in Bitdeer Technologies Group during the second quarter valued at approximately $5,074,000. Point72 Asset Management L.P. bought a new stake in Bitdeer Technologies Group in the second quarter valued at approximately $4,617,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Bitdeer Technologies Group in the second quarter worth $4,510,000. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

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.