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

Bitdeer Technologies Group (NASDAQ:BTDR) has earned an average recommendation of “Buy” from the twelve brokerages that are covering the stock, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $21.18.

BTDR has been the topic of a number of recent research reports. Roth Mkm reaffirmed a “buy” rating and set a $23.50 price objective (down previously from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday. Keefe, Bruyette & Woods initiated coverage on Bitdeer Technologies Group in a research report on Monday, January 27th. They set an “outperform” rating and a $26.50 price objective on the stock. Benchmark dropped their price objective on Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday. Northland Securities raised their price objective on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, B. Riley raised their price objective on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, December 19th.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several institutional investors have recently added to or reduced their stakes in BTDR. Quarry LP purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $42,000. Stonebridge Financial Group LLC purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $65,000. SBI Securities Co. Ltd. purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $79,000. Wells Fargo & Company MN raised its stake in shares of Bitdeer Technologies Group by 56.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock worth $93,000 after purchasing an additional 1,540 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $116,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Trading Up 6.2 %

BTDR opened at $10.89 on Friday. Bitdeer Technologies Group has a 12-month low of $5.23 and a 12-month high of $26.99. The business’s fifty day simple moving average is $18.45 and its 200-day simple moving average is $12.78. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -20.94 and a beta of 2.04.

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.