B. Riley Boosts Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $24.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price lifted by research analysts at B. Riley from $15.00 to $24.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s target price points to a potential upside of 17.13% from the stock’s current price.

Several other research analysts have also commented on the company. Needham & Company LLC reissued a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Northland Securities boosted their price target on shares of Bitdeer Technologies Group from $14.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Alliance Global Partners started coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price target on the stock. Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Benchmark increased their target price on Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bitdeer Technologies Group currently has a consensus rating of “Buy” and a consensus price target of $19.80.

Bitdeer Technologies Group Stock Performance

Bitdeer Technologies Group stock opened at $20.49 on Thursday. Bitdeer Technologies Group has a fifty-two week low of $5.23 and a fifty-two week high of $25.51. The stock has a market cap of $2.29 billion, a P/E ratio of -39.40 and a beta of 2.27. The firm’s fifty day moving average price is $12.53 and its 200-day moving average price is $9.77.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in Bitdeer Technologies Group in the third quarter valued at $66,000. Centiva Capital LP purchased a new stake in shares of Bitdeer Technologies Group in the 3rd quarter worth about $91,000. Barclays PLC bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $169,000. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Bitdeer Technologies Group by 96.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock valued at $347,000 after buying an additional 21,798 shares during the period. Institutional investors own 22.25% of the company’s stock.

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.