Benchmark Reaffirms Buy Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock had its "buy" rating reissued by analysts at Benchmark in a research report issued on Monday,Benzinga reports. They currently have a $24.00 target price on the stock. Benchmark's price objective indicates a potential upside of 63.27% from the stock's current price.

A number of other equities research analysts have also weighed in on the company. Roth Mkm restated a "buy" rating and set a $23.50 price objective (down previously from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Rosenblatt Securities upped their price target on shares of Bitdeer Technologies Group from $12.00 to $15.00 and gave the company a "buy" rating in a research report on Monday. Keefe, Bruyette & Woods initiated coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They set an "outperform" rating and a $26.50 price target on the stock. HC Wainwright reissued a "buy" rating and set a $21.00 target price (down from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reduced their target price on Bitdeer Technologies Group from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $19.80.

Bitdeer Technologies Group Stock Performance

NASDAQ:BTDR traded up $0.58 during mid-day trading on Monday, reaching $14.70. 3,182,600 shares of the company's stock were exchanged, compared to its average volume of 4,717,527. Bitdeer Technologies Group has a one year low of $5.25 and a one year high of $26.99. The business's fifty day simple moving average is $9.68 and its two-hundred day simple moving average is $13.81. The firm has a market capitalization of $1.65 billion, a PE ratio of -28.31 and a beta of 2.24.

Institutional Investors Weigh In On Bitdeer Technologies Group

Large investors have recently made changes to their positions in the business. Swiss National Bank grew its position in shares of Bitdeer Technologies Group by 136.8% during the 1st quarter. Swiss National Bank now owns 168,400 shares of the company's stock valued at $1,487,000 after acquiring an additional 97,300 shares during the period. Deutsche Bank AG increased its position in Bitdeer Technologies Group by 198.3% in the first quarter. Deutsche Bank AG now owns 49,301 shares of the company's stock worth $435,000 after buying an additional 32,776 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Bitdeer Technologies Group by 45.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 537,082 shares of the company's stock worth $4,742,000 after buying an additional 168,304 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Bitdeer Technologies Group in the first quarter valued at $342,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Bitdeer Technologies Group by 182.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,012 shares of the company's stock valued at $274,000 after buying an additional 20,030 shares during the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.

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