Brokerages Set Bitdeer Technologies Group (NASDAQ:BTDR) Price Target at $17.20

Bitdeer Technologies Group (NASDAQ:BTDR) has been given a consensus rating of “Buy” by the eleven ratings firms that are currently covering the firm, 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 price objective among brokers that have issued a report on the stock in the last year is $18.60.

A number of analysts have recently issued reports on the company. Roth Mkm boosted their price objective on Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Rosenblatt Securities raised their price objective on shares of Bitdeer Technologies Group from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, December 6th. HC Wainwright upped their target price on shares of 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, Benchmark increased their price target on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock opened at $21.22 on Friday. The company has a market cap of $2.38 billion, a PE ratio of -40.81 and a beta of 2.27. The firm has a fifty day moving average price of $11.79 and a two-hundred day moving average price of $9.54. Bitdeer Technologies Group has a fifty-two week low of $5.23 and a fifty-two week high of $25.51.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Mirabella Financial Services LLP bought a new stake in Bitdeer Technologies Group during the 3rd quarter worth approximately $5,872,000. D1 Capital Partners L.P. bought a new stake in shares of Bitdeer Technologies Group during the second quarter worth $5,386,000. Marshall Wace LLP bought a new stake in shares of Bitdeer Technologies Group during the second quarter worth $5,074,000. Point72 Asset Management L.P. acquired a new stake in shares of Bitdeer Technologies Group in the second quarter valued at $4,617,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Bitdeer Technologies Group in the second quarter valued at about $4,510,000. 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.