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

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have been given a consensus recommendation of “Buy” by the eleven ratings firms 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 1-year price objective among brokerages that have covered the stock in the last year is $20.20.

A number of research firms have commented on BTDR. Rosenblatt Securities raised their target price on Bitdeer Technologies Group from $12.00 to $15.00 and gave the company a “buy” rating in a report on Monday, May 12th. Needham & Company LLC boosted their price target on Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Keefe, Bruyette & Woods began coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They issued an “outperform” rating and a $26.50 target price on the stock. Benchmark reissued a “buy” rating and issued a $24.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, May 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $21.00 price target (down from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th.

Bitdeer Technologies Group Trading Up 1.8%

Shares of BTDR stock opened at $15.59 on Wednesday. Bitdeer Technologies Group has a 12-month low of $5.40 and a 12-month high of $26.99. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -29.98 and a beta of 2.24. The stock has a 50 day simple moving average of $10.23 and a 200-day simple moving average of $14.07.

Institutional Trading of Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth $161,000. Baader Bank Aktiengesellschaft purchased a new position in Bitdeer Technologies Group during the fourth quarter worth about $566,000. Stonebridge Financial Group LLC purchased a new position in Bitdeer Technologies Group during the fourth quarter worth about $65,000. Van ECK Associates Corp acquired a new stake in Bitdeer Technologies Group in the 4th quarter worth about $29,125,000. Finally, FengHe Fund Management Pte. Ltd. purchased a new stake in Bitdeer Technologies Group in the 4th quarter valued at about $10,378,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.