Bitdeer Technologies Group (NASDAQ:BTDR) Given Average Recommendation of “Buy” by Brokerages

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have been assigned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $21.00.

Several research analysts have recently issued reports on the stock. B. Riley raised their target price 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Needham & Company LLC increased their price target on Bitdeer Technologies Group from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Monday. Roth Mkm lifted their price objective on Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, Northland Securities upped their price objective on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Friday.

Bitdeer Technologies Group Stock Down 7.5 %

Bitdeer Technologies Group stock opened at $17.11 on Thursday. The business’s 50-day simple moving average is $16.84 and its 200 day simple moving average is $11.24. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -32.90 and a beta of 2.09. Bitdeer Technologies Group has a 12-month low of $5.23 and a 12-month high of $26.99.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its stake in Bitdeer Technologies Group by 281.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock worth $1,933,000 after purchasing an additional 182,110 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Bitdeer Technologies Group by 901.0% in the second quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock valued at $4,210,000 after buying an additional 369,363 shares during the period. Mirabella Financial Services LLP bought a new stake in shares of Bitdeer Technologies Group during the third quarter worth $5,872,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Bitdeer Technologies Group during the third quarter worth $220,000. Finally, Geode Capital Management LLC lifted its position in Bitdeer Technologies Group by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock valued at $2,886,000 after acquiring an additional 46,968 shares in the last quarter. Institutional investors and hedge funds 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.