Bitdeer Technologies Group (NASDAQ:BTDR) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have been given an average recommendation of “Buy” by the eleven analysts that are currently covering the firm, Marketbeat reports. Ten 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 objective among brokers that have updated their coverage on the stock in the last year is $21.00.

A number of analysts have recently commented on BTDR shares. B. Riley boosted their price objective on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Benchmark reduced their price objective on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Rosenblatt Securities lowered their target price on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Keefe, Bruyette & Woods assumed coverage on Bitdeer Technologies Group in a research report on Monday, January 27th. They set an “outperform” rating and a $26.50 price target for the company. Finally, Northland Securities boosted their price target 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.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Bitdeer Technologies Group by 3.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,358 shares of the company’s stock valued at $636,000 after purchasing an additional 916 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Bitdeer Technologies Group by 14.3% in the 4th 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 raised its holdings in Bitdeer Technologies Group by 56.4% in the 4th 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. Quarry LP acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth approximately $42,000. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth approximately $65,000. 22.25% of the stock is owned by institutional investors.

Bitdeer Technologies Group Stock Performance

NASDAQ BTDR opened at $11.65 on Tuesday. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99. The stock’s 50 day moving average price is $14.77 and its two-hundred day moving average price is $13.33. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -22.40 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.