Brokerages Set Bitdeer Technologies Group (NASDAQ:BTDR) PT at $19.80

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) has received an average recommendation of "Buy" from the eleven analysts that are currently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $19.80.

BTDR has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Alliance Global Partners initiated coverage on Bitdeer Technologies Group in a research note on Tuesday, October 8th. They set a "buy" rating and a $14.00 price target on the stock. Roth Mkm raised their price objective on Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a "buy" rating in a research note on Tuesday, December 17th. Benchmark boosted their target price on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Finally, HC Wainwright raised their price target on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake 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 worth $1,933,000 after purchasing an additional 182,110 shares during the last quarter. Millennium Management LLC boosted its position in Bitdeer Technologies Group by 901.0% during the second quarter. Millennium Management LLC now owns 410,359 shares of the company's stock worth $4,210,000 after acquiring an additional 369,363 shares during the last quarter. Mirabella Financial Services LLP purchased a new stake in Bitdeer Technologies Group in the 3rd quarter worth approximately $5,872,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Bitdeer Technologies Group in the 3rd quarter valued at $220,000. Finally, Geode Capital Management LLC raised its holdings in Bitdeer Technologies Group by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 368,564 shares of the company's stock valued at $2,886,000 after acquiring an additional 46,968 shares during the last quarter. Institutional investors and hedge funds own 22.25% of the company's stock.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ BTDR traded down $1.12 during trading on Thursday, hitting $18.58. 9,745,898 shares of the company were exchanged, compared to its average volume of 9,325,547. Bitdeer Technologies Group has a 1 year low of $5.23 and a 1 year high of $26.99. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -35.73 and a beta of 2.09. The firm's fifty day moving average price is $16.43 and its 200 day moving average price is $11.10.

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.