Roth Mkm Reaffirms "Buy" Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Roth Mkm in a research note issued on Wednesday,Benzinga reports. They currently have a $23.50 target price on the stock, down from their previous target price of $29.00. Roth Mkm's price target suggests a potential upside of 90.90% from the stock's current price.

Other research analysts also recently issued reports about the company. Northland Securities upped their price objective on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. B. Riley upped their price objective on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. HC Wainwright restated a "buy" rating and set a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday. Benchmark decreased their price target on Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Needham & Company LLC decreased their price target on Bitdeer Technologies Group from $22.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Bitdeer Technologies Group presently has a consensus rating of "Buy" and a consensus target price of $21.18.

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Bitdeer Technologies Group Trading Up 13.0 %

BTDR traded up $1.42 during trading on Wednesday, reaching $12.31. 10,678,092 shares of the company were exchanged, compared to its average volume of 7,445,046. The stock has a market cap of $1.38 billion, a P/E ratio of -23.67 and a beta of 2.04. The firm has a 50 day moving average of $18.29 and a 200 day moving average of $12.85. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Yong Rong HK Asset Management Ltd bought a new position in Bitdeer Technologies Group during the fourth quarter valued at about $65,010,000. Trivest Advisors Ltd bought a new position in Bitdeer Technologies Group during the fourth quarter valued at about $48,481,000. Van ECK Associates Corp bought a new position in Bitdeer Technologies Group during the fourth quarter valued at about $29,125,000. Renaissance Technologies LLC boosted its stake in Bitdeer Technologies Group by 3,558.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock valued at $26,876,000 after buying an additional 1,206,361 shares in the last quarter. Finally, Vident Advisory LLC boosted its stake in Bitdeer Technologies Group by 29.7% during the fourth quarter. Vident Advisory LLC now owns 1,139,619 shares of the company's stock valued at $24,696,000 after buying an additional 260,649 shares in the last quarter. 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.