Bitdeer Technologies Group (NASDAQ:BTDR) Receives $21.00 Consensus PT from Analysts

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have been assigned an average recommendation of “Buy” from the eleven analysts that are presently covering the company, 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 brokers that have updated their coverage on the stock in the last year is $21.00.

A number of brokerages have weighed in on BTDR. Keefe, Bruyette & Woods initiated coverage on shares of Bitdeer Technologies Group in a research note on Monday, January 27th. They issued an “outperform” rating and a $26.50 target price for the company. Rosenblatt Securities dropped their price objective on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Needham & Company LLC decreased their price objective on Bitdeer Technologies Group from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Northland Securities lifted their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, B. Riley upped their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, December 19th.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTDR. Charles Schwab Investment Management Inc. increased its stake in shares of Bitdeer Technologies Group by 281.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock valued at $1,933,000 after acquiring an additional 182,110 shares during the last quarter. FengHe Fund Management Pte. Ltd. acquired a new position in Bitdeer Technologies Group during the fourth quarter valued at approximately $10,378,000. Mirabella Financial Services LLP bought a new stake in Bitdeer Technologies Group in the third quarter valued at approximately $5,872,000. Barclays PLC acquired a new stake in Bitdeer Technologies Group in the third quarter worth $161,000. Finally, Geode Capital Management LLC boosted its position in shares of Bitdeer Technologies Group by 14.6% during the third quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock worth $2,886,000 after purchasing an additional 46,968 shares in the last quarter. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Down 2.3 %

Shares of NASDAQ BTDR opened at $9.92 on Tuesday. Bitdeer Technologies Group has a 12-month low of $5.23 and a 12-month high of $26.99. The firm’s 50-day simple moving average is $14.16 and its 200 day simple moving average is $13.32. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -19.08 and a beta of 2.12.

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.