Bitdeer Technologies Group (NASDAQ:BTDR) Receives $20.10 Average Target Price from Analysts

Bitdeer Technologies Group (NASDAQ:BTDR) has received a consensus rating of “Buy” from the eleven analysts that are currently covering the stock, MarketBeat reports. Ten research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $20.10.

A number of equities analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $24.00 price target on shares of Bitdeer Technologies Group in a research note on Monday, May 12th. Wall Street Zen upgraded Bitdeer Technologies Group from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Needham & Company LLC upped their price target on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Rosenblatt Securities restated a “buy” rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a report on Monday, June 16th. Finally, B. Riley raised their price target on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its stake in shares of Bitdeer Technologies Group by 167.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock valued at $4,265,000 after buying an additional 302,548 shares during the period. Scientech Research LLC boosted its stake in shares of Bitdeer Technologies Group by 90.3% during the 1st quarter. Scientech Research LLC now owns 86,584 shares of the company’s stock worth $765,000 after buying an additional 41,078 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Bitdeer Technologies Group during the 1st quarter worth about $1,168,000. Graham Capital Management L.P. acquired a new position in shares of Bitdeer Technologies Group during the 1st quarter worth about $551,000. Finally, Harvest Portfolios Group Inc. boosted its stake in shares of Bitdeer Technologies Group by 118.6% during the 1st quarter. Harvest Portfolios Group Inc. now owns 36,578 shares of the company’s stock worth $323,000 after buying an additional 19,846 shares during the last quarter. 22.25% of the stock is owned by institutional investors and hedge funds.

Bitdeer Technologies Group Trading Up 5.3%

Shares of NASDAQ BTDR opened at $13.77 on Thursday. The stock has a 50 day simple moving average of $12.83 and a 200-day simple moving average of $13.82. The company has a market cap of $1.54 billion, a PE ratio of -3.38 and a beta of 2.22. Bitdeer Technologies Group has a 12-month low of $5.40 and a 12-month high of $26.99.

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.