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

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have been given a consensus recommendation of “Buy” by the eleven ratings firms that are covering the company, Marketbeat Ratings 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 12-month price objective among analysts that have issued a report on the stock in the last year is $19.80.

A number of equities analysts have recently weighed in on BTDR shares. Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Benchmark increased their price objective on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. B. Riley boosted 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 report on Thursday, December 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, November 19th.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in BTDR. Public Employees Retirement System of Ohio acquired a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth $66,000. Centiva Capital LP bought a new position in Bitdeer Technologies Group in the third quarter valued at about $91,000. International Assets Investment Management LLC acquired a new position in Bitdeer Technologies Group during the fourth quarter worth about $308,000. Barclays PLC acquired a new position in Bitdeer Technologies Group during the third quarter worth about $161,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Bitdeer Technologies Group in the third quarter worth about $169,000. 22.25% of the stock is currently owned by institutional investors.

Bitdeer Technologies Group Stock Down 5.7 %

Bitdeer Technologies Group stock opened at $18.58 on Thursday. The company’s 50-day moving average price is $16.21 and its two-hundred day moving average price is $11.05. The stock has a market cap of $2.08 billion, a P/E ratio of -35.73 and a beta of 2.09. Bitdeer Technologies Group has a twelve month low of $5.23 and a twelve month high of $26.99.

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.