Brokerages Set Bitdeer Technologies Group (NASDAQ:BTDR) Target Price at $19.80

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have been assigned an average recommendation of “Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. Ten research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $20.20.

A number of equities research analysts have recently weighed in on BTDR shares. Rosenblatt Securities lifted their price objective on Bitdeer Technologies Group from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Needham & Company LLC increased their target price on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, May 16th. 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, February 26th. HC Wainwright reissued a “buy” rating and set a $21.00 target price (down from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Finally, Benchmark restated a “buy” rating and set a $24.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, May 12th.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Stonebridge Financial Group LLC boosted its position in shares of Bitdeer Technologies Group by 33.3% in the 1st quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares during the period. Quarry LP acquired a new position in Bitdeer Technologies Group in the fourth quarter valued at $42,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Bitdeer Technologies Group during the first quarter worth about $55,000. SBI Securities Co. Ltd. acquired a new position in Bitdeer Technologies Group in the 4th quarter valued at about $79,000. Finally, Wells Fargo & Company MN lifted its position in Bitdeer Technologies Group by 56.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock worth $93,000 after acquiring an additional 1,540 shares during the period. 22.25% of the stock is owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Price Performance

Shares of BTDR opened at $15.59 on Wednesday. The stock has a market cap of $1.75 billion, a PE ratio of -29.98 and a beta of 2.24. The firm has a 50-day simple moving average of $10.23 and a two-hundred day simple moving average of $14.07. Bitdeer Technologies Group has a 1-year low of $5.40 and a 1-year high of $26.99.

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.