Bitdeer Technologies Group (NASDAQ:BTDR) Receives $20.10 Average PT from Analysts

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) has been assigned an average recommendation of "Buy" from the eleven brokerages that are covering the stock, MarketBeat.com reports. Ten investment 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 brokerages that have covered the stock in the last year is $20.10.

BTDR has been the subject of a number of analyst reports. Needham & Company LLC lifted their target price on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Wall Street Zen raised Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Rosenblatt Securities reissued a "buy" rating and issued a $20.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, June 16th. Benchmark restated a "buy" rating and set a $24.00 target price on shares of Bitdeer Technologies Group in a report on Monday, May 12th. Finally, B. Riley boosted their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th.

Bitdeer Technologies Group Trading Up 5.3%

Shares of BTDR traded up $0.69 on Thursday, reaching $13.77. 5,006,210 shares of the company's stock were exchanged, compared to its average volume of 5,179,545. The stock has a market capitalization of $1.54 billion, a P/E ratio of -3.38 and a beta of 2.22. The business has a 50 day moving average price of $12.77 and a two-hundred day moving average price of $13.91. Bitdeer Technologies Group has a 12 month low of $5.40 and a 12 month high of $26.99.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently modified their holdings of the business. Stonebridge Financial Group LLC boosted its stake in Bitdeer Technologies Group by 33.3% in 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. Quarry LP bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $42,000. Caitong International Asset Management Co. Ltd acquired a new stake in Bitdeer Technologies Group in the first quarter valued at $55,000. SBI Securities Co. Ltd. bought a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $79,000. Finally, Wells Fargo & Company MN increased its stake in shares of Bitdeer Technologies Group by 56.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock worth $93,000 after purchasing an additional 1,540 shares during the last quarter. Institutional investors and hedge funds 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.