Brokerages Set Bitdeer Technologies Group (NASDAQ:BTDR) PT at $21.18

Bitdeer Technologies Group (NASDAQ:BTDR) has been given an average recommendation of “Buy” by the twelve brokerages that are covering the stock, MarketBeat reports. Eleven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $21.18.

BTDR has been the subject of several research analyst reports. Needham & Company LLC dropped their price objective on shares of Bitdeer Technologies Group from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Benchmark dropped their target price on Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods initiated coverage on Bitdeer Technologies Group in a research note on Monday, January 27th. They set an “outperform” rating and a $26.50 price target on the stock. Northland Securities lifted their price objective on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, B. Riley upped their target price 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.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Yong Rong HK Asset Management Ltd acquired a new stake in Bitdeer Technologies Group in the fourth quarter worth $65,010,000. Trivest Advisors Ltd bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at $48,481,000. Van ECK Associates Corp acquired a new stake in Bitdeer Technologies Group during the 4th quarter worth $29,125,000. Renaissance Technologies LLC lifted its holdings in Bitdeer Technologies Group by 3,558.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company’s stock worth $26,876,000 after acquiring an additional 1,206,361 shares in the last quarter. Finally, Vident Advisory LLC grew its stake in Bitdeer Technologies Group by 29.7% in the fourth quarter. Vident Advisory LLC now owns 1,139,619 shares of the company’s stock valued at $24,696,000 after acquiring an additional 260,649 shares during the period. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Trading Down 6.3 %

Shares of NASDAQ BTDR opened at $10.95 on Friday. Bitdeer Technologies Group has a 1-year low of $5.23 and a 1-year high of $26.99. The company has a 50-day moving average of $17.35 and a two-hundred day moving average of $12.93. The company has a market cap of $1.23 billion, a PE ratio of -21.06 and a beta of 2.12.

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.