Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) had its price target boosted by Rosenblatt Securities from $9.00 to $17.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

BTDR has been the topic of a number of other reports. Needham & Company LLC reiterated a "buy" rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday. Northland Capmk raised shares of Bitdeer Technologies Group to a "strong-buy" rating in a research report on Wednesday, October 9th. B. Riley decreased their price objective on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a "buy" rating for the company in a report on Friday, October 11th. Benchmark reissued a "buy" rating and set a $16.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday. Finally, Northland Securities increased their target price on Bitdeer Technologies Group from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Tuesday. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $14.80.

Bitdeer Technologies Group Price Performance

BTDR stock traded down $0.31 during midday trading on Tuesday, hitting $11.54. The company's stock had a trading volume of 4,587,026 shares, compared to its average volume of 2,260,789. The stock has a market capitalization of $1.29 billion, a P/E ratio of -22.19 and a beta of 1.92. The company's fifty day moving average price is $8.15 and its 200 day moving average price is $8.07. Bitdeer Technologies Group has a twelve month low of $3.91 and a twelve month high of $14.27.

Institutional Inflows and Outflows

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