Bitdeer Technologies Group (NASDAQ:BTDR) Given New $18.00 Price Target at B. Riley

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) had its price target hoisted by investment analysts at B. Riley from $17.00 to $18.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley's price objective points to a potential upside of 23.25% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Roth Mkm reiterated a "buy" rating and set a $23.50 price objective (down from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Needham & Company LLC boosted their price target on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Rosenblatt Securities boosted their target price on shares of Bitdeer Technologies Group from $12.00 to $15.00 and gave the company a "buy" rating in a report on Monday, May 12th. HC Wainwright reiterated a "buy" rating and issued a $21.00 target price (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Finally, Benchmark reissued a "buy" rating and issued a $24.00 price target on shares of Bitdeer Technologies Group in a research note on Monday, May 12th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $19.60.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ BTDR traded down $0.40 during mid-day trading on Wednesday, hitting $14.60. 2,224,914 shares of the company's stock traded hands, compared to its average volume of 4,903,214. Bitdeer Technologies Group has a 1 year low of $5.40 and a 1 year high of $26.99. The company has a market capitalization of $1.64 billion, a P/E ratio of -28.10 and a beta of 2.24. The company's 50-day moving average is $10.69 and its two-hundred day moving average is $14.30.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Quarry LP purchased a new position in Bitdeer Technologies Group during the 4th quarter worth $42,000. Stonebridge Financial Group LLC purchased a new position in Bitdeer Technologies Group in the fourth quarter valued at approximately $65,000. SBI Securities Co. Ltd. purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $79,000. Wells Fargo & Company MN raised its holdings in Bitdeer Technologies Group by 56.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock valued at $93,000 after acquiring an additional 1,540 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Bitdeer Technologies Group during the fourth quarter valued at $116,000. 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.

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