Brokerages Set Bitdeer Technologies Group (NASDAQ:BTDR) Price Target at $19.70

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eleven brokerages that are covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $19.50.

BTDR has been the subject of a number of analyst reports. Northland Securities boosted their price objective on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an "outperform" rating in a research report on Friday, January 10th. Rosenblatt Securities dropped their target price on shares of Bitdeer Technologies Group from $25.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Keefe, Bruyette & Woods started coverage on Bitdeer Technologies Group in a research report on Monday, January 27th. They set an "outperform" rating and a $26.50 price target on the stock. Needham & Company LLC decreased their target price on shares of Bitdeer Technologies Group from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Monday. Finally, Benchmark dropped their price target on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th.

Bitdeer Technologies Group Price Performance

Shares of BTDR stock traded down $0.02 on Friday, hitting $7.60. 4,809,496 shares of the stock traded hands, compared to its average volume of 4,425,806. The company's fifty day moving average is $10.38 and its 200 day moving average is $13.51. Bitdeer Technologies Group has a 1-year low of $5.25 and a 1-year high of $26.99. The company has a market capitalization of $850.94 million, a PE ratio of -14.62 and a beta of 2.25.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds have recently bought and sold shares of the company. Yong Rong HK Asset Management Ltd acquired a new position in shares of Bitdeer Technologies Group during the 4th quarter worth about $65,010,000. Trivest Advisors Ltd acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at $48,481,000. Van ECK Associates Corp acquired a new stake in Bitdeer Technologies Group during the fourth quarter valued at approximately $29,125,000. Renaissance Technologies LLC grew its holdings in shares of Bitdeer Technologies Group by 3,558.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock worth $26,876,000 after purchasing an additional 1,206,361 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at approximately $16,834,000. 22.25% of the stock is currently owned by institutional investors.

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.