Benchmark Reaffirms “Buy” Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating reissued by equities researchers at Benchmark in a research report issued on Tuesday,Benzinga reports. They presently have a $16.00 price objective on the stock. Benchmark’s target price would indicate a potential upside of 34.57% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. HC Wainwright lifted their price objective on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Alliance Global Partners started coverage on Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 target price on the stock. B. Riley reduced their price target on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Finally, Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bitdeer Technologies Group presently has a consensus rating of “Buy” and a consensus price target of $14.80.

Bitdeer Technologies Group Price Performance

BTDR opened at $11.89 on Tuesday. The firm has a market cap of $1.33 billion, a price-to-earnings 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. The stock’s 50 day simple moving average is $8.26 and its 200 day simple moving average is $8.09.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mirabella Financial Services LLP bought a new stake in Bitdeer Technologies Group during the 3rd quarter valued at $5,872,000. Vident Advisory LLC grew its stake in Bitdeer Technologies Group by 186.4% during the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock worth $6,098,000 after buying an additional 565,362 shares during the last quarter. D1 Capital Partners L.P. purchased a new position in Bitdeer Technologies Group during the 2nd quarter worth $5,386,000. Marshall Wace LLP purchased a new position in Bitdeer Technologies Group during the 2nd quarter worth $5,074,000. Finally, Point72 Asset Management L.P. acquired a new stake in Bitdeer Technologies Group during the 2nd quarter worth about $4,617,000. 22.25% of the stock is owned by institutional investors.

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.