Bitdeer Technologies Group (NASDAQ:BTDR) Now Covered by Jones Trading

Key Points

• Jones Trading has initiated coverage of Bitdeer Technologies Group (NASDAQ:BTDR) with a “buy” rating and a price target of $32.00, suggesting a potential upside of 64.78% from its current price.
• Despite the positive outlook from Jones Trading, other analysts have issued mixed ratings, with Wall Street Zen downgrading BTDR to “sell” and other firms maintaining varying levels of buy ratings.
• Bitdeer Technologies experienced a significant stock price increase of 10.3% on Monday, with the stock currently trading at $19.42, up from a yearly low of $6.61.

Investment analysts at Jones Trading assumed coverage on shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) in a research note issued on Monday,Benzinga reports. The firm set a "buy" rating and a $32.00 price target on the stock. Jones Trading's price objective would indicate a potential upside of 64.78% from the company's current price.

A number of other equities research analysts have also commented on BTDR. Wall Street Zen lowered Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. B. Riley restated a "buy" rating on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Benchmark reaffirmed a "buy" rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Bitdeer Technologies Group in a research report on Saturday, September 27th. Finally, Needham & Company LLC reissued a "buy" rating and set a $17.00 price objective on shares of Bitdeer Technologies Group in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.33.

Bitdeer Technologies Group Stock Up 10.3%

Shares of BTDR stock opened at $19.42 on Monday. Bitdeer Technologies Group has a 1 year low of $6.61 and a 1 year high of $26.99. 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 business's fifty day moving average is $14.49 and its 200-day moving average is $12.72. The stock has a market cap of $4.11 billion, a PE ratio of -4.13 and a beta of 2.25.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently modified their holdings of BTDR. Tower Research Capital LLC TRC increased its position in shares of Bitdeer Technologies Group by 7,157.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company's stock worth $83,000 after acquiring an additional 7,157 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of Bitdeer Technologies Group by 13.2% during the second quarter. Vident Advisory LLC now owns 775,776 shares of the company's stock worth $8,906,000 after purchasing an additional 90,762 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in Bitdeer Technologies Group in the second quarter worth approximately $332,000. Bank of America Corp DE grew its position in Bitdeer Technologies Group by 67.5% during the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company's stock worth $72,753,000 after acquiring an additional 2,553,093 shares during the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in Bitdeer Technologies Group during the 2nd quarter valued at approximately $804,000. Institutional investors 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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