Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Raised to $14.00

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) had its price target lifted by investment analysts at Northland Securities from $13.00 to $14.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Northland Securities' target price points to a potential upside of 21.32% from the company's current price.

Other equities research analysts have also recently issued reports about the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $9.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, October 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Alliance Global Partners began coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a "buy" rating and a $14.00 target price for the company. HC Wainwright cut their price target on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, August 13th. Finally, B. Riley dropped their price objective on Bitdeer Technologies Group from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, October 11th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $14.80.

Bitdeer Technologies Group Stock Down 2.6 %

Bitdeer Technologies Group stock traded down $0.31 during trading on Tuesday, reaching $11.54. The stock had a trading volume of 4,099,104 shares, compared to its average volume of 2,258,106. Bitdeer Technologies Group has a 52-week low of $3.91 and a 52-week high of $14.27. The stock has a market cap of $1.29 billion, a PE ratio of -60.42 and a beta of 1.92. The business has a 50 day moving average price of $8.04 and a 200 day moving average price of $8.02.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of large investors have recently made changes to their positions in BTDR. Vident Advisory LLC raised its holdings in Bitdeer Technologies Group by 186.4% during the first quarter. Vident Advisory LLC now owns 868,622 shares of the company's stock worth $6,098,000 after purchasing an additional 565,362 shares during the last quarter. Mirabella Financial Services LLP acquired a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth $5,872,000. D1 Capital Partners L.P. acquired a new stake in Bitdeer Technologies Group in the 2nd quarter valued at about $5,386,000. Marshall Wace LLP acquired a new stake in Bitdeer Technologies Group in the 2nd quarter valued at about $5,074,000. Finally, Point72 Asset Management L.P. acquired a new position in Bitdeer Technologies Group during the second quarter worth about $4,617,000. Hedge funds and other 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.