Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Raised to $29.00 at Roth Mkm

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) had its price objective lifted by investment analysts at Roth Mkm from $15.00 to $29.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Roth Mkm's target price would suggest a potential upside of 36.66% from the company's previous close.

A number of other equities research analysts have also recently commented on the stock. Benchmark increased their target price 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. Alliance Global Partners assumed coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. They issued a "buy" rating and a $14.00 target price on the stock. Northland Capmk upgraded Bitdeer Technologies Group to a "strong-buy" rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reiterated an "overweight" rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Finally, Rosenblatt Securities upped their target price on Bitdeer Technologies Group from $17.00 to $22.00 and gave the company a "buy" rating in a report on Friday, December 6th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $18.60.

Bitdeer Technologies Group Stock Performance

Shares of BTDR traded down $1.92 during trading hours on Tuesday, hitting $21.22. 15,554,100 shares of the stock were exchanged, compared to its average volume of 2,961,248. The stock's 50-day moving average price is $11.51 and its two-hundred day moving average price is $9.43. Bitdeer Technologies Group has a 12-month low of $5.23 and a 12-month high of $25.51. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -38.62 and a beta of 2.27.

Hedge Funds Weigh In On Bitdeer Technologies Group

Hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in Bitdeer Technologies Group in the third quarter valued at about $66,000. Centiva Capital LP purchased a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $91,000. Barclays PLC acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $169,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in Bitdeer Technologies Group by 96.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company's stock valued at $347,000 after purchasing an additional 21,798 shares during the last quarter. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.