Rosenblatt Securities Reaffirms “Buy” Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating reissued by equities research analysts at Rosenblatt Securities in a research note issued to investors on Monday,Benzinga reports. They presently have a $22.00 price objective on the stock. Rosenblatt Securities’ target price indicates a potential upside of 18.92% from the company’s previous close.

BTDR has been the subject of several other reports. Northland Securities raised their target price on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday. Alliance Global Partners initiated coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. They set a “buy” rating and a $14.00 price objective for the company. Northland Capmk upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Benchmark lifted their price objective 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. Finally, Roth Mkm lifted their price objective on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $21.00.

Bitdeer Technologies Group Stock Down 0.4 %

Shares of BTDR opened at $18.50 on Monday. The company has a market cap of $2.07 billion, a price-to-earnings ratio of -35.58 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. The company has a 50 day moving average of $16.64 and a two-hundred day moving average of $11.19.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several large investors have recently made changes to their positions in the stock. Mirabella Financial Services LLP acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $5,872,000. D1 Capital Partners L.P. acquired a new position in shares of Bitdeer Technologies Group in the 2nd quarter worth approximately $5,386,000. Marshall Wace LLP acquired a new position in shares of Bitdeer Technologies Group in the 2nd quarter worth approximately $5,074,000. Point72 Asset Management L.P. acquired a new position in shares of Bitdeer Technologies Group in the 2nd quarter worth approximately $4,617,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Bitdeer Technologies Group in the 2nd quarter worth approximately $4,510,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.