Bitdeer Technologies Group (NASDAQ:BTDR) Receives $21.50 Average Target Price from Analysts

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have earned an average rating of “Buy” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $22.23.

BTDR has been the subject of a number of research analyst reports. Rosenblatt Securities lifted their target price on Bitdeer Technologies Group from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods initiated coverage on shares of Bitdeer Technologies Group in a report on Monday, January 27th. They issued an “outperform” rating and a $26.50 price target for the company. Roth Mkm increased their price objective on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Northland Securities increased their price target on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, Benchmark boosted their price objective on Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a report on Monday, December 9th.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC purchased a new stake in Bitdeer Technologies Group in the fourth quarter valued at $65,000. Public Employees Retirement System of Ohio purchased a new stake in Bitdeer Technologies Group during the 3rd quarter valued at about $66,000. Centiva Capital LP purchased a new position in Bitdeer Technologies Group in the 3rd quarter worth approximately $91,000. Barclays PLC purchased a new stake in shares of Bitdeer Technologies Group in the third quarter valued at approximately $161,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Bitdeer Technologies Group during the third quarter worth approximately $169,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Stock Performance

Shares of BTDR opened at $16.25 on Monday. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -31.25 and a beta of 2.04. The stock has a fifty day moving average of $19.56 and a 200-day moving average of $12.15. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99.

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.