Bitdeer Technologies Group (NASDAQ:BTDR) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Bitdeer Technologies Group (NASDAQ:BTDR) has garnered an overall consensus rating of "Buy" from eleven brokerages, with ten analysts labeling it a buy and one a strong buy.
• The average 12-month price target for Bitdeer stock among analysts is $21.00, reflecting a positive outlook for the company in the near future.
• Institutional investors hold 22.25% of the stock, with several recent modifications in their holdings, indicating growing interest and investment in Bitdeer Technologies Group.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) has been assigned an average rating of "Buy" from the eleven brokerages that are covering the stock, Marketbeat Ratings 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 1 year target price among brokerages that have issued ratings on the stock in the last year is $21.00.

BTDR has been the subject of several analyst reports. Needham & Company LLC upped their target price on Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a "buy" rating in a report on Friday, May 16th. Wall Street Zen upgraded Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a research note on Monday, June 16th. Benchmark reaffirmed a "buy" rating and issued a $24.00 price target on shares of Bitdeer Technologies Group in a research note on Monday, May 12th. Finally, Cantor Fitzgerald upped their price target on Bitdeer Technologies Group from $21.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th.

Hedge Funds Weigh In On Bitdeer Technologies Group

Hedge funds have recently bought and sold shares of the company. Vontobel Holding Ltd. acquired a new position in Bitdeer Technologies Group during the 1st quarter worth about $227,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Bitdeer Technologies Group by 118.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,254 shares of the company's stock worth $1,327,000 after purchasing an additional 33,182 shares during the period. SG Americas Securities LLC purchased a new stake in Bitdeer Technologies Group during the 1st quarter worth about $505,000. SBI Securities Co. Ltd. increased its holdings in Bitdeer Technologies Group by 507.1% during the 1st quarter. SBI Securities Co. Ltd. now owns 22,002 shares of the company's stock worth $194,000 after purchasing an additional 18,378 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Bitdeer Technologies Group by 3,558.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock worth $26,876,000 after purchasing an additional 1,206,361 shares during the period. Institutional investors and hedge funds own 22.25% of the company's stock.

Bitdeer Technologies Group Stock Performance

Shares of BTDR traded up $0.19 during trading hours on Monday, hitting $13.27. 1,109,953 shares of the stock were exchanged, compared to its average volume of 5,549,251. The stock's 50-day moving average price is $13.19 and its two-hundred day moving average price is $12.89. Bitdeer Technologies Group has a 12-month low of $5.40 and a 12-month high of $26.99. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -3.25 and a beta of 2.22.

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.