Bitdeer Technologies Group (NASDAQ:BTDR) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• Bitdeer Technologies Group's stock received a "Sell (D-)" rating from Weiss Ratings, while other analysts issued conflicting buy ratings at price targets ranging from $17.00 to $40.00.
• The company's stock currently has a consensus rating of "Moderate Buy" with an average price target of $24.18, amid a market cap of $4.22 billion.
• Significant institutional investment increases were observed, including Bank of America raising its holdings by 67.5% during the second quarter.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock had its "sell (d-)" rating reissued by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $17.00 price target on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Rosenblatt Securities reiterated a "buy" rating and set a $20.00 price target on shares of Bitdeer Technologies Group in a research report on Monday, September 15th. Roth Capital boosted their price target on Bitdeer Technologies Group from $18.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. B. Riley reiterated a "buy" rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Finally, HC Wainwright boosted their price target on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Bitdeer Technologies Group currently has a consensus rating of "Moderate Buy" and an average price target of $24.18.

Bitdeer Technologies Group Stock Performance

BTDR traded down $0.66 during trading on Wednesday, reaching $19.95. 8,727,844 shares of the company were exchanged, compared to its average volume of 5,400,637. The stock has a market cap of $4.22 billion, a P/E ratio of -4.24 and a beta of 2.25. The firm has a 50 day moving average of $14.76 and a 200 day moving average of $12.85. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12. Bitdeer Technologies Group has a 52 week low of $6.61 and a 52 week high of $26.99.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds have recently modified their holdings of BTDR. Bank of America Corp DE lifted its holdings in shares of Bitdeer Technologies Group by 67.5% during the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company's stock valued at $72,753,000 after purchasing an additional 2,553,093 shares during the last quarter. Geode Capital Management LLC raised its position in Bitdeer Technologies Group by 197.7% during the second quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company's stock valued at $18,280,000 after buying an additional 1,057,552 shares during the period. FengHe Fund Management Pte. Ltd. raised its position in Bitdeer Technologies Group by 178.2% during the first quarter. FengHe Fund Management Pte. Ltd. now owns 1,332,200 shares of the company's stock valued at $11,763,000 after buying an additional 853,300 shares during the period. Capital Fund Management S.A. acquired a new position in Bitdeer Technologies Group during the first quarter valued at $6,835,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Bitdeer Technologies Group by 5,771.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 757,864 shares of the company's stock valued at $8,700,000 after buying an additional 744,956 shares during the period. 22.25% of the stock is owned by hedge funds and other institutional investors.

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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