Rosenblatt Securities Forecasts Strong Price Appreciation for Bitdeer Technologies Group (NASDAQ:BTDR) Stock

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price raised by Rosenblatt Securities from $17.00 to $22.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. B. Riley lowered their price target on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, October 11th. HC Wainwright lifted their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Needham & Company LLC restated a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Finally, Benchmark reiterated a “buy” rating and issued a $16.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $15.90.

Bitdeer Technologies Group Stock Up 23.7 %

BTDR opened at $21.01 on Friday. The stock’s fifty day moving average is $9.62 and its two-hundred day moving average is $8.66. The company has a market capitalization of $2.35 billion, a P/E ratio of -40.77 and a beta of 2.27. Bitdeer Technologies Group has a 52 week low of $5.21 and a 52 week high of $22.01.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new stake in Bitdeer Technologies Group in the third quarter worth about $275,000. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $161,000. Geode Capital Management LLC boosted its stake in Bitdeer Technologies Group by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock worth $2,886,000 after purchasing an additional 46,968 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Bitdeer Technologies Group during the 3rd quarter worth approximately $66,000. Finally, Y Intercept Hong Kong Ltd increased its stake in Bitdeer Technologies Group by 96.8% during 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 in 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.