Bitdeer Technologies Group (NASDAQ:BTDR) Given "Buy" Rating at Roth Capital

Key Points

• Bitdeer Technologies Group has received a "buy" rating from Roth Capital, with a target price of $40.00, indicating a potential upside of 98.81% from its previous close.
• Despite positive endorsements, such as a "buy" rating from Needham & Company, there are mixed signals, including a "sell" rating from Weiss Ratings, leading to an average recommendation of "Moderate Buy" with an average target price of $24.25.
• Institutional investors currently hold 22.25% of Bitdeer Technologies Group's stock, with significant increases in stakes from several firms reported during the first quarter.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock had its "buy" rating reaffirmed by Roth Capital in a note issued to investors on Wednesday,Benzinga reports. They presently have a $40.00 price objective on the stock. Roth Capital's target price suggests a potential upside of 98.81% from the stock's previous close.

Other analysts have also recently issued research reports about the company. Needham & Company LLC reaffirmed a "buy" rating and set a $17.00 target price on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Bitdeer Technologies Group in a research report on Wednesday, October 8th. B. Riley reaffirmed a "buy" rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Wall Street Zen cut shares of Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Finally, Benchmark restated a "buy" rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Twelve research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Bitdeer Technologies Group presently has an average rating of "Moderate Buy" and an average target price of $24.25.

Bitdeer Technologies Group Price Performance

NASDAQ BTDR opened at $20.12 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 1.03. The firm's 50 day moving average price is $15.47 and its 200-day moving average price is $13.17. Bitdeer Technologies Group has a 52-week low of $6.84 and a 52-week high of $26.99. The company has a market cap of $4.26 billion, a PE ratio of -4.28 and a beta of 2.25.

Institutional Trading of Bitdeer Technologies Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Bitdeer Technologies Group during the first quarter worth about $505,000. Stonebridge Financial Group LLC lifted its stake in Bitdeer Technologies Group by 33.3% during the 1st quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company's stock valued at $35,000 after acquiring an additional 1,000 shares during the period. Vontobel Holding Ltd. acquired a new stake in Bitdeer Technologies Group during the 1st quarter valued at approximately $227,000. Teacher Retirement System of Texas lifted its stake in Bitdeer Technologies Group by 241.0% during the 1st quarter. Teacher Retirement System of Texas now owns 52,097 shares of the company's stock valued at $460,000 after acquiring an additional 36,819 shares during the period. Finally, SBI Securities Co. Ltd. lifted its stake 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 valued at $194,000 after acquiring an additional 18,378 shares during the period. Institutional investors and hedge funds own 22.25% of the company's stock.

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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