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

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have been given an average recommendation of “Buy” by the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $19.80.

Several equities analysts have recently weighed in on BTDR shares. HC Wainwright lifted their price objective on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Roth Mkm raised their price objective on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Benchmark upped their target price on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Alliance Global Partners initiated coverage on Bitdeer Technologies Group in a research note on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd.

Bitdeer Technologies Group Trading Down 5.7 %

BTDR stock opened at $18.58 on Thursday. Bitdeer Technologies Group has a 1-year low of $5.23 and a 1-year high of $26.99. The business’s 50-day moving average price is $16.21 and its two-hundred day moving average price is $11.05. The firm has a market cap of $2.08 billion, a PE ratio of -35.73 and a beta of 2.09.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several large investors have recently made changes to their positions in BTDR. Charles Schwab Investment Management Inc. raised its position in Bitdeer Technologies Group by 281.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock worth $1,933,000 after acquiring an additional 182,110 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Bitdeer Technologies Group by 901.0% in the 2nd quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock valued at $4,210,000 after purchasing an additional 369,363 shares during the period. Mirabella Financial Services LLP acquired a new stake in Bitdeer Technologies Group in the 3rd quarter valued at about $5,872,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Bitdeer Technologies Group during the third quarter worth about $220,000. Finally, Geode Capital Management LLC increased its position in 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 buying an additional 46,968 shares during the last quarter. Institutional investors and hedge funds 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.