Analysts Set Bitdeer Technologies Group (NASDAQ:BTDR) PT at $21.00

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) has been given a consensus rating of "Buy" by the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $21.00.

Several equities analysts have issued reports on BTDR shares. B. Riley upped 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. Northland Securities boosted their price objective on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an "outperform" rating in a report on Friday, January 10th. Roth Mkm restated a "buy" rating and issued a $23.50 target price (down previously from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Needham & Company LLC lowered their price target on Bitdeer Technologies Group from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $21.00 price objective (down previously from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ:BTDR traded down $0.21 during midday trading on Tuesday, reaching $9.94. 953,229 shares of the company's stock traded hands, compared to its average volume of 4,128,389. Bitdeer Technologies Group has a one year low of $5.23 and a one year high of $26.99. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -19.07 and a beta of 2.12. The stock has a 50 day moving average of $14.39 and a 200 day moving average of $13.35.

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Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Yong Rong HK Asset Management Ltd purchased a new position in Bitdeer Technologies Group during the fourth quarter valued at approximately $65,010,000. Trivest Advisors Ltd bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at $48,481,000. Van ECK Associates Corp purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at $29,125,000. Renaissance Technologies LLC boosted its holdings in 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 buying an additional 1,206,361 shares during the period. Finally, Voloridge Investment Management LLC purchased a new stake in Bitdeer Technologies Group in the 4th quarter worth $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.