Brokerages Set Bitdeer Technologies Group (NASDAQ:BTDR) Target Price at $21.00

Bitdeer Technologies Group (NASDAQ:BTDR) has been given a consensus recommendation of “Buy” by the eleven brokerages that are presently covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $21.00.

Several equities research analysts recently issued reports on the stock. Needham & Company LLC lifted their price objective on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Benchmark reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, May 12th. Cantor Fitzgerald lifted their price objective on shares of Bitdeer Technologies Group from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. B. Riley reduced their price objective on shares of Bitdeer Technologies Group from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, July 10th. Finally, Wall Street Zen raised shares of Bitdeer Technologies Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd.

Bitdeer Technologies Group Trading Down 2.6%

Shares of NASDAQ:BTDR opened at $13.08 on Monday. Bitdeer Technologies Group has a 1 year low of $5.40 and a 1 year high of $26.99. The business has a fifty day simple moving average of $13.19 and a 200 day simple moving average of $12.89. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -3.21 and a beta of 2.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Bitdeer Technologies Group by 3.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,358 shares of the company’s stock worth $636,000 after purchasing an additional 916 shares during the period. Stonebridge Financial Group LLC increased its holdings in shares of Bitdeer Technologies Group by 33.3% during the 1st quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company’s stock worth $35,000 after purchasing an additional 1,000 shares during the period. Public Employees Retirement System of Ohio increased its stake in Bitdeer Technologies Group by 14.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 9,600 shares of the company’s stock valued at $208,000 after acquiring an additional 1,200 shares during the period. Wells Fargo & Company MN increased its stake in Bitdeer Technologies Group by 56.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock valued at $93,000 after acquiring an additional 1,540 shares during the period. Finally, Quarry LP bought a new stake in Bitdeer Technologies Group in the fourth quarter valued at about $42,000. Institutional investors own 22.25% of the company’s stock.

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.