Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective upped by equities research analysts at Rosenblatt Securities from $22.00 to $30.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ target price indicates a potential upside of 84.50% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Northland Securities upped their price objective on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Needham & Company LLC increased their price target on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. HC Wainwright increased their price target on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Benchmark increased their price target on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, B. Riley increased their price target on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $22.23.

Bitdeer Technologies Group Stock Up 0.1 %

NASDAQ BTDR opened at $16.26 on Wednesday. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -31.27 and a beta of 2.04. The company has a 50-day simple moving average of $19.64 and a two-hundred day simple moving average of $12.18. Bitdeer Technologies Group has a 12-month low of $5.23 and a 12-month high of $26.99.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC raised its position in shares of Bitdeer Technologies Group by 901.0% during the 2nd quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock valued at $4,210,000 after purchasing an additional 369,363 shares during the period. Shariaportfolio Inc. bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at $1,039,000. Charles Schwab Investment Management Inc. raised its position in shares of Bitdeer Technologies Group by 281.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock valued at $1,933,000 after purchasing an additional 182,110 shares during the period. Mirabella Financial Services LLP bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at $5,872,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at $169,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.