Bitdeer Technologies Group (NASDAQ:BTDR) Hits New 52-Week High – Should You Buy?

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $26.24 and last traded at $24.82, with a volume of 2209476 shares. The stock had previously closed at $24.46.

Analysts Set New Price Targets

Several research firms have recently issued reports on BTDR. Northland Capmk raised Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Roth Mkm raised their price objective on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Northland Securities increased their price objective on Bitdeer Technologies Group from $14.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Rosenblatt Securities upped their price target on Bitdeer Technologies Group from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $19.80.

Bitdeer Technologies Group Price Performance

The stock has a market cap of $2.65 billion, a P/E ratio of -45.48 and a beta of 2.27. The firm’s fifty day moving average price is $14.03 and its two-hundred day moving average price is $10.34.

Institutional Investors Weigh In On Bitdeer Technologies Group

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

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.