Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Expected to Rise, HC Wainwright Analyst Says

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price boosted by stock analysts at HC Wainwright from $17.00 to $18.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 51.39% from the company’s previous close.

BTDR has been the topic of several other reports. Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Benchmark reaffirmed a “buy” rating and issued a $16.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, August 13th. Northland Securities lifted their target price on Bitdeer Technologies Group from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday. B. Riley reduced their target price on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $14.80.

Bitdeer Technologies Group Stock Up 3.0 %

Shares of Bitdeer Technologies Group stock opened at $11.89 on Tuesday. The stock’s 50-day simple moving average is $8.26 and its 200-day simple moving average is $8.09. Bitdeer Technologies Group has a 52 week low of $3.91 and a 52 week high of $14.27. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -22.87 and a beta of 1.92.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several large investors have recently added to or reduced their stakes in the stock. Barclays PLC bought a new stake in Bitdeer Technologies Group during the third quarter worth approximately $161,000. Geode Capital Management LLC increased its stake 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 acquiring an additional 46,968 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Bitdeer Technologies Group during the third quarter worth approximately $66,000. Y Intercept Hong Kong Ltd grew its stake in shares of Bitdeer Technologies Group by 96.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock valued at $347,000 after buying an additional 21,798 shares during the last quarter. Finally, State Street Corp bought a new position in shares of Bitdeer Technologies Group during the third quarter valued at approximately $1,510,000. 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.