Rosenblatt Securities Forecasts Strong Price Appreciation for Bitdeer Technologies Group (NASDAQ:BTDR) Stock

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price increased by investment analysts at Rosenblatt Securities from $9.00 to $17.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 42.98% from the stock’s previous close.

Several other research analysts also recently commented on BTDR. Roth Mkm raised their price target on shares of Bitdeer Technologies Group from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday. Alliance Global Partners assumed coverage on Bitdeer Technologies Group in a research report on Tuesday, October 8th. They set a “buy” rating and a $14.00 target price for the company. Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Needham & Company LLC reiterated a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Bitdeer Technologies Group has a consensus rating of “Buy” and a consensus price target of $14.80.

Bitdeer Technologies Group Trading Up 3.0 %

BTDR opened at $11.89 on Tuesday. Bitdeer Technologies Group has a 12 month low of $3.91 and a 12 month high of $14.27. The company has a 50 day moving average of $8.26 and a 200 day moving average of $8.09. The company has a market cap of $1.33 billion, a PE ratio of -22.87 and a beta of 1.92.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at $66,000. Centiva Capital LP purchased a new position in shares of Bitdeer Technologies Group in the third quarter worth $91,000. Barclays PLC acquired a new stake in Bitdeer Technologies Group during the 3rd quarter worth about $161,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Bitdeer Technologies Group in the third quarter valued at approximately $169,000. Finally, Y Intercept Hong Kong Ltd increased its stake in shares of Bitdeer Technologies Group by 96.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock worth $347,000 after acquiring an additional 21,798 shares during the period. Hedge funds and other institutional investors 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.