Bitdeer Technologies Group (NASDAQ:BTDR) Sets New 52-Week High – Time to Buy?

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price hit a new 52-week high on Friday . The stock traded as high as $14.52 and last traded at $14.25, with a volume of 4127830 shares trading hands. The stock had previously closed at $12.23.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BTDR shares. Benchmark reissued a “buy” rating and set a $16.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday, November 19th. Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Roth Mkm increased their target price on shares of Bitdeer Technologies Group from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. HC Wainwright increased their price target on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $14.80.

Bitdeer Technologies Group Stock Performance

The firm has a 50 day moving average of $8.99 and a 200-day moving average of $8.41. The stock has a market capitalization of $1.60 billion, a PE ratio of -27.44 and a beta of 1.92.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently modified their holdings of BTDR. Public Employees Retirement System of Ohio bought a new stake in Bitdeer Technologies Group during the 3rd quarter worth approximately $66,000. Centiva Capital LP bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $91,000. Barclays PLC bought a new stake in Bitdeer Technologies Group in the third quarter valued at approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at $169,000. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Bitdeer Technologies Group during the second quarter worth about $272,000. Institutional investors own 22.25% of the company’s stock.

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.