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

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have earned a consensus recommendation of “Buy” from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $19.80.

A number of research firms recently commented on BTDR. Roth Mkm boosted their price target on Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday. Northland Securities raised 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 note on Friday, December 6th. Rosenblatt Securities boosted their price target 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. Benchmark increased their price target on Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Northland Capmk raised Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BTDR. Mirabella Financial Services LLP bought a new position in Bitdeer Technologies Group in the 3rd quarter worth about $5,872,000. D1 Capital Partners L.P. bought a new position in Bitdeer Technologies Group in the second quarter worth approximately $5,386,000. Marshall Wace LLP purchased a new position in Bitdeer Technologies Group during the 2nd quarter worth $5,074,000. Point72 Asset Management L.P. purchased a new position in Bitdeer Technologies Group during the 2nd quarter worth $4,617,000. Finally, Point72 Hong Kong Ltd bought a new stake in Bitdeer Technologies Group during the 2nd quarter valued at $4,510,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Down 6.5 %

Shares of Bitdeer Technologies Group stock opened at $18.14 on Friday. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -34.88 and a beta of 2.27. The stock’s 50-day simple moving average is $12.27 and its 200-day simple moving average is $9.67. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $25.51.

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.