Bitdeer Technologies Group (NASDAQ:BTDR) Receives Consensus Recommendation of "Buy" from Analysts

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) has been assigned an average rating of "Buy" from the eleven brokerages that are covering the company, Marketbeat reports. Ten analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $14.80.

Several research firms have issued reports on BTDR. Cantor Fitzgerald reiterated an "overweight" rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Northland Securities increased their price objective on Bitdeer Technologies Group from $13.00 to $14.00 and gave the stock an "outperform" rating in a research note on Tuesday. Rosenblatt Securities increased their price objective on Bitdeer Technologies Group from $9.00 to $17.00 and gave the stock a "buy" rating in a research note on Tuesday. Alliance Global Partners initiated coverage on Bitdeer Technologies Group in a report on Tuesday, October 8th. They set a "buy" rating and a $14.00 target price on the stock. Finally, Benchmark restated a "buy" rating and set a $16.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mirabella Financial Services LLP acquired a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $5,872,000. Vident Advisory LLC increased its position in shares of Bitdeer Technologies Group by 186.4% during the 1st 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. D1 Capital Partners L.P. bought a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $5,386,000. Marshall Wace LLP bought a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $5,074,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $4,617,000. Institutional investors and hedge funds own 22.25% of the company's stock.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ BTDR traded up $0.35 during trading hours on Wednesday, reaching $11.89. The stock had a trading volume of 7,529,032 shares, compared to its average volume of 2,284,306. The business's fifty day moving average is $8.26 and its two-hundred day moving average is $8.09. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -22.87 and a beta of 1.92. Bitdeer Technologies Group has a twelve month low of $3.91 and a twelve month high of $14.27.

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.