HC Wainwright Reaffirms "Buy" Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock had its "buy" rating reissued by analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They presently have a $21.00 price objective on the stock, down from their prior price objective of $22.00. HC Wainwright's price target suggests a potential upside of 70.59% from the stock's previous close.

Other analysts have also issued reports about the stock. Keefe, Bruyette & Woods initiated coverage on shares of 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 increased their price objective on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Benchmark increased their price objective on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Roth Mkm increased their price objective on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a "buy" rating in a research report on Tuesday, December 17th. Finally, B. Riley increased their price objective on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $21.18.

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Bitdeer Technologies Group Price Performance

NASDAQ BTDR traded up $1.42 on Wednesday, hitting $12.31. 10,678,092 shares of the stock were exchanged, compared to its average volume of 7,445,046. The business's fifty day moving average is $18.29 and its 200 day moving average is $12.81. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99. The company has a market capitalization of $1.38 billion, a PE ratio of -23.67 and a beta of 2.04.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of large investors have recently bought and sold shares of BTDR. Charles Schwab Investment Management Inc. grew its stake in Bitdeer Technologies Group by 281.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company's stock worth $1,933,000 after buying an additional 182,110 shares in the last quarter. Mirabella Financial Services LLP acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $5,872,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $169,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $220,000. Finally, Centiva Capital LP acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $91,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.