Analysts Set Bitdeer Technologies Group (NASDAQ:BTDR) Target Price at $14.80

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have earned an average rating of “Buy” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $14.80.

A number of research firms have issued reports on BTDR. Needham & Company LLC restated a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. HC Wainwright raised their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Northland Securities increased their price target on shares of Bitdeer Technologies Group from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. B. Riley cut their price objective on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Finally, Benchmark restated a “buy” rating and set a $16.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, November 19th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vident Advisory LLC lifted its position in shares of Bitdeer Technologies Group by 186.4% during the first quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock worth $6,098,000 after purchasing an additional 565,362 shares in the last quarter. Virtu Financial LLC bought a new position in Bitdeer Technologies Group in the 1st quarter valued at $431,000. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Bitdeer Technologies Group in the 2nd quarter valued at $272,000. Thomist Capital Management LP acquired a new stake in shares of Bitdeer Technologies Group in the 2nd quarter valued at $1,156,000. Finally, XTX Topco Ltd bought a new stake in shares of Bitdeer Technologies Group during the second quarter worth $276,000. 22.25% of the stock is owned by institutional investors.

Bitdeer Technologies Group Trading Up 3.1 %

Shares of Bitdeer Technologies Group stock opened at $11.54 on Wednesday. Bitdeer Technologies Group has a 1-year low of $4.10 and a 1-year high of $14.27. The firm has a fifty day simple moving average of $8.44 and a 200-day simple moving average of $8.19. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -22.19 and a beta of 1.92.

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.