Bitdeer Technologies Group (NASDAQ:BTDR) Receives Average Rating of "Buy" from Analysts

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) has been assigned an average rating of "Buy" from the eleven analysts that are presently covering the firm, Marketbeat.com reports. Ten research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $20.20.

A number of equities analysts have recently issued reports on BTDR shares. Needham & Company LLC increased their price target on Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday. Keefe, Bruyette & Woods initiated coverage on shares of Bitdeer Technologies Group in a report on Monday, January 27th. They set an "outperform" rating and a $26.50 target price on the stock. Benchmark restated a "buy" rating and issued a $24.00 price target on shares of Bitdeer Technologies Group in a report on Monday, May 12th. Rosenblatt Securities upped their price target on shares of Bitdeer Technologies Group from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, HC Wainwright reissued a "buy" rating and set a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th.

Bitdeer Technologies Group Stock Up 0.1%

NASDAQ:BTDR traded up $0.01 during midday trading on Wednesday, hitting $15.20. The stock had a trading volume of 1,790,758 shares, compared to its average volume of 4,823,656. The stock has a 50-day moving average of $10.03 and a 200 day moving average of $14.01. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -29.55 and a beta of 2.24. Bitdeer Technologies Group has a one year low of $5.40 and a one year high of $26.99.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC increased its holdings in shares of Bitdeer Technologies Group by 33.3% during the first quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company's stock valued at $35,000 after acquiring an additional 1,000 shares in the last quarter. Quarry LP acquired a new position in Bitdeer Technologies Group during the 4th quarter valued at approximately $42,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Bitdeer Technologies Group in the first quarter worth $55,000. SBI Securities Co. Ltd. acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $79,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Bitdeer Technologies Group by 56.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock worth $93,000 after buying an additional 1,540 shares during the period. 22.25% of the stock is owned by institutional investors and hedge funds.

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.