Bitdeer Technologies Group (NASDAQ:BTDR) Receives Average Recommendation of "Buy" from Brokerages

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) has been assigned a consensus rating of "Buy" from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $19.60.

Several analysts have recently weighed in on the company. Benchmark reiterated a "buy" rating and set a $24.00 target price on shares of Bitdeer Technologies Group in a research report on Monday, May 12th. Wall Street Zen upgraded Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. B. Riley lifted their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. HC Wainwright reiterated a "buy" rating and set a $21.00 target price (down from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Finally, Needham & Company LLC lifted their price objective on Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a "buy" rating in a report on Friday, May 16th.

Bitdeer Technologies Group Stock Up 10.8%

NASDAQ BTDR opened at $13.99 on Friday. The company has a fifty day moving average of $11.24 and a two-hundred day moving average of $14.42. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -26.90 and a beta of 2.32. Bitdeer Technologies Group has a 52 week low of $5.40 and a 52 week high of $26.99.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several hedge funds have recently modified their holdings of the company. Stonebridge Financial Group LLC boosted its position in shares of Bitdeer Technologies Group by 33.3% in the first quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company's stock worth $35,000 after buying an additional 1,000 shares during the period. Quarry LP acquired a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth $42,000. Caitong International Asset Management Co. Ltd acquired a new stake in Bitdeer Technologies Group during the first quarter valued at $55,000. SBI Securities Co. Ltd. acquired a new stake in Bitdeer Technologies Group during the fourth quarter valued at $79,000. Finally, Wells Fargo & Company MN boosted its position in Bitdeer Technologies Group by 56.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock valued at $93,000 after purchasing an additional 1,540 shares during the last quarter. 22.25% of the stock is currently 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.

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