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

Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) have been given an average recommendation of "Buy" by the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $19.80.

BTDR has been the subject of several research analyst reports. Roth Mkm restated a "buy" rating and set a $23.50 price target (down previously from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Needham & Company LLC cut their price target on Bitdeer Technologies Group from $15.00 to $13.00 and set a "buy" rating for the company in a report on Monday, April 21st. Rosenblatt Securities raised their price target on Bitdeer Technologies Group from $12.00 to $15.00 and gave the company a "buy" rating in a report on Monday. HC Wainwright reaffirmed a "buy" rating and issued a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Finally, Benchmark reaffirmed a "buy" rating and issued a $24.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Yong Rong HK Asset Management Ltd purchased a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth approximately $65,010,000. Trivest Advisors Ltd purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at $48,481,000. Van ECK Associates Corp purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at $29,125,000. FengHe Fund Management Pte. Ltd. increased its holdings in shares of Bitdeer Technologies Group by 178.2% in the 1st quarter. FengHe Fund Management Pte. Ltd. now owns 1,332,200 shares of the company's stock valued at $11,763,000 after acquiring an additional 853,300 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Bitdeer Technologies Group by 3,558.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock valued at $26,876,000 after acquiring an additional 1,206,361 shares during the period. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Price Performance

NASDAQ BTDR opened at $14.43 on Wednesday. The stock has a market capitalization of $1.62 billion, a PE ratio of -27.75 and a beta of 2.24. The business has a 50 day simple moving average of $9.80 and a two-hundred day simple moving average of $13.86. Bitdeer Technologies Group has a 1-year low of $5.25 and a 1-year high of $26.99.

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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