Bitdeer Technologies Group (NASDAQ:BTDR) Receives Consensus Rating of "Buy" from Brokerages

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eleven ratings firms that are covering the company, MarketBeat 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 price target among brokers that have issued a report on the stock in the last year is $19.50.

Several analysts have commented on BTDR shares. Benchmark lowered their price objective on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC dropped their price target on Bitdeer Technologies Group from $15.00 to $13.00 and set a "buy" rating for the company in a research note 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 objective on the stock. Rosenblatt Securities cut their target price on Bitdeer Technologies Group from $25.00 to $12.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Northland Securities lifted their price target on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th.

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors have recently modified their holdings of the company. FengHe Fund Management Pte. Ltd. purchased a new stake in Bitdeer Technologies Group in the 4th quarter worth approximately $10,378,000. Barclays PLC purchased a new stake in Bitdeer Technologies Group in the third quarter worth $161,000. Geode Capital Management LLC boosted its holdings in Bitdeer Technologies Group by 14.6% in the third quarter. Geode Capital Management LLC now owns 368,564 shares of the company's stock valued at $2,886,000 after acquiring an additional 46,968 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Bitdeer Technologies Group during the 3rd quarter valued at $220,000. Finally, Yong Rong HK Asset Management Ltd bought a new position in Bitdeer Technologies Group in the 4th quarter worth $65,010,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Trading Up 3.2 %

Shares of BTDR traded up $0.32 on Friday, reaching $10.16. 1,947,352 shares of the company's stock traded hands, compared to its average volume of 4,478,352. The stock's 50 day simple moving average is $10.10 and its two-hundred day simple moving average is $13.46. Bitdeer Technologies Group has a 52-week low of $5.25 and a 52-week high of $26.99. The stock has a market cap of $1.14 billion, a PE ratio of -19.47 and a beta of 2.25.

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.