Roth Mkm Forecasts Strong Price Appreciation for Bitdeer Technologies Group (NASDAQ:BTDR) Stock

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target raised by investment analysts at Roth Mkm from $14.00 to $15.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s price objective would suggest a potential upside of 26.16% from the stock’s current price.

A number of other equities analysts also recently commented on BTDR. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday. Northland Securities upped their price objective on shares of Bitdeer Technologies Group from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday. Alliance Global Partners began coverage on Bitdeer Technologies Group in a research report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 target price on the stock. Finally, HC Wainwright upped their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $14.80.

Bitdeer Technologies Group Price Performance

BTDR stock opened at $11.89 on Tuesday. The business has a 50-day moving average price of $8.26 and a 200 day moving average price of $8.09. The company has a market capitalization of $1.33 billion, a P/E ratio of -22.87 and a beta of 1.92. Bitdeer Technologies Group has a 1-year low of $3.91 and a 1-year high of $14.27.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BTDR. Public Employees Retirement System of Ohio acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter worth $66,000. Centiva Capital LP purchased a new position in Bitdeer Technologies Group during the 3rd quarter valued at about $91,000. Barclays PLC purchased a new position in Bitdeer Technologies Group during the 3rd quarter valued at about $161,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Bitdeer Technologies Group during the 3rd quarter valued at about $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $220,000. 22.25% of the stock is owned by institutional investors and hedge funds.

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.