Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Raised to $22.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price raised by Rosenblatt Securities from $17.00 to $22.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently commented on BTDR. HC Wainwright upped their price objective on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research report 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 report on Tuesday, November 19th. Benchmark reissued a “buy” rating and set a $16.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, November 19th. Finally, B. Riley decreased their target price on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $15.90.

Bitdeer Technologies Group Price Performance

Shares of BTDR stock opened at $21.01 on Friday. The company has a market capitalization of $2.35 billion, a PE ratio of -40.40 and a beta of 2.27. The firm’s 50-day moving average is $9.87 and its two-hundred day moving average is $8.81. Bitdeer Technologies Group has a 12 month low of $5.21 and a 12 month high of $22.01.

Institutional Trading of Bitdeer Technologies Group

Hedge funds have recently made changes to their positions in the business. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Bitdeer Technologies Group in the second quarter worth $272,000. Thomist Capital Management LP acquired a new stake in shares of Bitdeer Technologies Group in the second quarter valued at $1,156,000. XTX Topco Ltd purchased a new position in Bitdeer Technologies Group in the second quarter valued at $276,000. Symmetry Investments LP acquired a new position in Bitdeer Technologies Group during the 2nd quarter worth $432,000. Finally, D1 Capital Partners L.P. purchased a new stake in Bitdeer Technologies Group during the 2nd quarter worth about $5,386,000. Institutional investors and hedge funds 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.