Bitdeer Technologies Group (NASDAQ:BTDR) Receives $21.18 Consensus Target Price from Analysts

Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) have earned a consensus rating of "Buy" from the twelve brokerages that are presently covering the stock, Marketbeat reports. Eleven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $21.18.

Several analysts recently commented on BTDR shares. B. Riley increased their target price on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Rosenblatt Securities reaffirmed a "buy" rating and set a $30.00 target price on shares of Bitdeer Technologies Group in a report on Monday, February 24th. Roth Mkm reiterated a "buy" rating and issued a $23.50 price target (down previously from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. HC Wainwright restated a "buy" rating and set a $21.00 price objective (down previously from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Bitdeer Technologies Group in a report on Monday, January 27th. They issued an "outperform" rating and a $26.50 target price for the company.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock traded down $0.99 on Friday, hitting $11.32. The company had a trading volume of 7,569,483 shares, compared to its average volume of 7,423,864. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99. The company has a market cap of $1.27 billion, a PE ratio of -21.77 and a beta of 2.04. The business has a 50-day simple moving average of $18.29 and a 200-day simple moving average of $12.88.

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Hedge Funds Weigh In On Bitdeer Technologies Group

Several hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Bitdeer Technologies Group by 3.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,358 shares of the company's stock valued at $636,000 after purchasing an additional 916 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Bitdeer Technologies Group by 14.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 9,600 shares of the company's stock worth $208,000 after buying an additional 1,200 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Bitdeer Technologies Group by 56.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock valued at $93,000 after buying an additional 1,540 shares during the period. Quarry LP bought a new position in Bitdeer Technologies Group in the fourth quarter valued at approximately $42,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Bitdeer Technologies Group during the 4th quarter worth $65,000. 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.