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

Key Points

• Bitdeer Technologies Group (NASDAQ:BTDR) has received a consensus rating of "Buy" from eleven brokerages, with an average 12-month price objective of $20.80.
• Analyst ratings include targets ranging from $17.00 to $23.00, with significant endorsements from firms like Cantor Fitzgerald and HC Wainwright.
• Institutional investors have increased their holdings in Bitdeer, with notable increases of 68.4% and 33.3% in recent quarters, now collectively owning 22.25% of the company's stock.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) has earned an average recommendation of "Buy" from the eleven analysts that are covering the stock, MarketBeat.com reports. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $20.80.

A number of analysts recently weighed in on the company. Benchmark restated a "buy" rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Needham & Company LLC restated a "buy" rating and issued a $17.00 price objective on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Wall Street Zen downgraded Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Rosenblatt Securities restated a "buy" rating and issued a $20.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, August 19th. Finally, B. Riley restated a "buy" rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th.

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vontobel Holding Ltd. acquired a new stake in Bitdeer Technologies Group during the 1st quarter worth about $227,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 acquiring an additional 33,182 shares during the period. SG Americas Securities LLC acquired a new stake in Bitdeer Technologies Group during the 1st quarter worth about $505,000. SBI Securities Co. Ltd. grew 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 acquiring an additional 18,378 shares during the period. Finally, Northern Trust Corp acquired a new stake in Bitdeer Technologies Group during the 4th quarter worth about $813,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Price Performance

Shares of BTDR traded up $0.60 during trading hours on Friday, reaching $13.55. The stock had a trading volume of 3,567,023 shares, compared to its average volume of 3,089,629. The stock has a market capitalization of $1.52 billion, a PE ratio of -2.88 and a beta of 2.23. Bitdeer Technologies Group has a 12 month low of $5.40 and a 12 month high of $26.99. The company's 50-day moving average is $12.99 and its two-hundred day moving average is $12.13. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 1.03.

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.