Bitdeer Technologies Group (NASDAQ:BTDR) Receives $17.20 Consensus PT from Analysts

Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) have been given an average rating of "Buy" by the eleven brokerages that are currently covering the firm, MarketBeat.com reports. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $17.20.

A number of research firms have commented on BTDR. Northland Capmk upgraded Bitdeer Technologies Group to a "strong-buy" rating in a research note on Wednesday, October 9th. Rosenblatt Securities increased their price objective on shares of Bitdeer Technologies Group from $17.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Cantor Fitzgerald reissued an "overweight" rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Alliance Global Partners started coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a "buy" rating and a $14.00 price target for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th.

Bitdeer Technologies Group Trading Down 2.1 %

Shares of BTDR stock traded down $0.45 during trading hours on Friday, reaching $20.92. 11,068,406 shares of the company's stock were exchanged, compared to its average volume of 2,858,125. Bitdeer Technologies Group has a fifty-two week low of $5.23 and a fifty-two week high of $24.68. The stock's 50 day moving average is $11.19 and its 200-day moving average is $9.31. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -40.23 and a beta of 2.27.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new stake in Bitdeer Technologies Group in the 3rd quarter worth approximately $275,000. Barclays PLC purchased a new stake in Bitdeer Technologies Group during the third quarter worth $161,000. Geode Capital Management LLC boosted its holdings in Bitdeer Technologies Group by 14.6% during the third quarter. Geode Capital Management LLC now owns 368,564 shares of the company's stock worth $2,886,000 after buying an additional 46,968 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Bitdeer Technologies Group during the third quarter valued at $66,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in Bitdeer Technologies Group by 96.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company's stock valued at $347,000 after buying an additional 21,798 shares in the last quarter. 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.