BTIG Research Issues Positive Forecast for Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price upped by BTIG Research from $23.00 to $25.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also weighed in on the company. Roth Capital raised their target price on Bitdeer Technologies Group from $18.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Wall Street Zen lowered Bitdeer Technologies Group from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Benchmark restated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 target price on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Finally, B. Riley restated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.25.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ:BTDR opened at $20.12 on Tuesday. Bitdeer Technologies Group has a twelve month low of $6.84 and a twelve month high of $26.99. The firm has a market cap of $4.26 billion, a PE ratio of -4.28 and a beta of 2.25. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 1.03. The business has a fifty day moving average of $15.47 and a 200-day moving average of $13.17.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently modified their holdings of BTDR. SG Americas Securities LLC acquired a new stake in shares of Bitdeer Technologies Group during the first quarter worth about $505,000. Stonebridge Financial Group LLC raised its position in shares of Bitdeer Technologies Group by 33.3% during the first quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company’s stock worth $35,000 after purchasing an additional 1,000 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Bitdeer Technologies Group during the first quarter worth about $227,000. Teacher Retirement System of Texas raised its position in shares of Bitdeer Technologies Group by 241.0% during the first quarter. Teacher Retirement System of Texas now owns 52,097 shares of the company’s stock worth $460,000 after purchasing an additional 36,819 shares during the period. Finally, SBI Securities Co. Ltd. raised its position in shares of Bitdeer Technologies Group by 507.1% during the first quarter. SBI Securities Co. Ltd. now owns 22,002 shares of the company’s stock worth $194,000 after purchasing an additional 18,378 shares during the period. 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.