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

Bitdeer Technologies Group (NASDAQ:BTDR) has been assigned an average rating of “Buy” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $14.80.

Several research analysts have weighed in on BTDR shares. B. Riley reduced their target price on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Roth Mkm raised their price objective on shares of Bitdeer Technologies Group from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Rosenblatt Securities upped their target price on shares of Bitdeer Technologies Group from $9.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Finally, HC Wainwright boosted their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th.

Bitdeer Technologies Group Stock Up 3.1 %

Shares of NASDAQ BTDR opened at $11.54 on Wednesday. Bitdeer Technologies Group has a twelve month low of $4.10 and a twelve month high of $14.27. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -22.19 and a beta of 1.92. The company’s fifty day moving average is $8.44 and its 200-day moving average is $8.19.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently made changes to their positions in the company. Millennium Management LLC increased its stake in shares of Bitdeer Technologies Group by 901.0% during the second quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock worth $4,210,000 after purchasing an additional 369,363 shares during the period. Point72 Hong Kong Ltd acquired a new position in Bitdeer Technologies Group in the 2nd quarter valued at $4,510,000. Shariaportfolio Inc. acquired a new position in Bitdeer Technologies Group in the 3rd quarter valued at $1,039,000. Thomist Capital Management LP bought a new position in Bitdeer Technologies Group during the 2nd quarter worth $1,156,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Bitdeer Technologies Group during the second quarter worth $4,617,000. Institutional investors 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.