Bitdeer Technologies Group (NASDAQ:BTDR) Reaches New 12-Month High – Still a Buy?

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) hit a new 52-week high on Friday . The stock traded as high as $26.24 and last traded at $24.82, with a volume of 2209476 shares trading hands. The stock had previously closed at $24.46.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. 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. B. Riley boosted their price objective on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Needham & Company LLC restated a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, November 19th. Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Northland Securities increased their price target on shares of Bitdeer Technologies Group from $14.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bitdeer Technologies Group has an average rating of “Buy” and an average target price of $19.80.

Bitdeer Technologies Group Stock Up 0.5 %

The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -47.29 and a beta of 2.27. The firm has a fifty day moving average of $13.73 and a 200-day moving average of $10.21.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $66,000. Centiva Capital LP acquired a new stake in Bitdeer Technologies Group during the 3rd quarter valued at $91,000. Barclays PLC purchased a new position in Bitdeer Technologies Group during the third quarter worth $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Bitdeer Technologies Group in the third quarter worth $169,000. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Bitdeer Technologies Group by 96.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock valued at $347,000 after acquiring an additional 21,798 shares in the last quarter. 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.