Bitdeer Technologies Group (NASDAQ:BTDR) Earns Outperform Rating from Analysts at Keefe, Bruyette & Woods

Investment analysts at Keefe, Bruyette & Woods assumed coverage on shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) in a report released on Monday, Marketbeat reports. The brokerage set an "outperform" rating and a $26.50 price target on the stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 70.53% from the stock's current price.

Several other research firms have also commented on BTDR. Rosenblatt Securities reissued a "buy" rating and issued a $22.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, January 13th. B. Riley lifted their target price on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Needham & Company LLC lifted their price objective on Bitdeer Technologies Group from $14.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Northland Capmk upgraded shares of Bitdeer Technologies Group to a "strong-buy" rating in a research note on Wednesday, October 9th. Finally, Northland Securities boosted their target price on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Bitdeer Technologies Group presently has a consensus rating of "Buy" and an average price target of $21.50.

Bitdeer Technologies Group Stock Down 24.8 %

Shares of BTDR stock traded down $5.12 during mid-day trading on Monday, reaching $15.54. The company's stock had a trading volume of 11,987,867 shares, compared to its average volume of 8,359,021. The company's 50 day simple moving average is $18.78 and its 200-day simple moving average is $11.83. Bitdeer Technologies Group has a 12-month low of $5.23 and a 12-month high of $26.99. The firm has a market capitalization of $1.74 billion, a PE ratio of -29.88 and a beta of 2.09.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in Bitdeer Technologies Group during the 3rd quarter worth $66,000. Centiva Capital LP acquired a new stake in Bitdeer Technologies Group in the third quarter worth about $91,000. International Assets Investment Management LLC acquired a new stake in Bitdeer Technologies Group in the fourth quarter worth about $308,000. Barclays PLC acquired a new stake in Bitdeer Technologies Group in the third quarter worth about $161,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $169,000. Institutional investors and hedge funds 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.