Bitdeer Technologies Group (NASDAQ:BTDR) Receives $19.80 Average Target Price from Analysts

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have received an average recommendation of “Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Ten equities 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 target price among brokerages that have issued a report on the stock in the last year is $21.00.

Several equities analysts have commented on BTDR shares. Alliance Global Partners initiated coverage on Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price target for the company. HC Wainwright raised their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Benchmark raised their price objective on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $22.00 target price on shares of Bitdeer Technologies Group in a research note on Monday.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently bought and sold shares of BTDR. International Assets Investment Management LLC bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $308,000. Sanctuary Advisors LLC bought a new stake in Bitdeer Technologies Group during the 3rd quarter worth about $275,000. Barclays PLC acquired a new stake in Bitdeer Technologies Group in the 3rd quarter valued at about $161,000. Geode Capital Management LLC raised its stake in shares of Bitdeer Technologies Group by 14.6% in the third quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock worth $2,886,000 after acquiring an additional 46,968 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Bitdeer Technologies Group during the third quarter worth approximately $66,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Bitdeer Technologies Group Stock Performance

Shares of BTDR opened at $17.11 on Thursday. The company has a 50-day simple moving average of $16.84 and a 200-day simple moving average of $11.24. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99. The firm has a market capitalization of $1.92 billion, a P/E ratio of -32.90 and a beta of 2.09.

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.