Analysts Set Bitdeer Technologies Group (NASDAQ:BTDR) Target Price at $20.80

Bitdeer Technologies Group (NASDAQ:BTDR) has been assigned a consensus recommendation of “Buy” from the twelve research firms that are currently covering the company, Marketbeat reports. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $22.5455.

BTDR has been the topic of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 price target on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Bitdeer Technologies Group in a report on Monday, September 15th. B. Riley reiterated a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Roth Capital boosted their target price on shares of Bitdeer Technologies Group from $18.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ BTDR opened at $17.96 on Tuesday. The business’s 50-day simple moving average is $13.89 and its 200-day simple moving average is $12.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 1.03. Bitdeer Technologies Group has a 52 week low of $6.61 and a 52 week high of $26.99. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of -3.82 and a beta of 2.23.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its holdings in shares of Bitdeer Technologies Group by 7,157.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock worth $83,000 after buying an additional 7,157 shares during the last quarter. Vident Advisory LLC increased its position in Bitdeer Technologies Group by 13.2% during the second quarter. Vident Advisory LLC now owns 775,776 shares of the company’s stock worth $8,906,000 after acquiring an additional 90,762 shares during the period. Boothbay Fund Management LLC acquired a new position in Bitdeer Technologies Group during the 2nd quarter valued at $332,000. Bank of America Corp DE boosted its holdings in Bitdeer Technologies Group by 67.5% in the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after purchasing an additional 2,553,093 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new stake in Bitdeer Technologies Group in the 2nd quarter worth $804,000. 22.25% of the stock is owned by 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.