Bitdeer Technologies Group's (BTDR) "Buy" Rating Reaffirmed at Rosenblatt Securities

Key Points

• Bitdeer Technologies Group (NASDAQ:BTDR) has received a "buy" rating from Rosenblatt Securities with a target price of $20.00, indicating a potential upside of 23.84%.
• Overall, the stock has a consensus rating of "Buy" with a target price averaging $20.80 by multiple research firms.
• Institutional investors hold 22.25% of Bitdeer Technologies Group, with significant increases in stakes from several major firms in recent quarters.

Rosenblatt Securities reissued their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) in a report released on Monday morning,Benzinga reports. They currently have a $20.00 price objective on the stock.

BTDR has been the subject of a number of other reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $23.00 price objective on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Benchmark reiterated a "buy" rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Wall Street Zen downgraded Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Finally, HC Wainwright boosted their target price on Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. Based on data from MarketBeat, Bitdeer Technologies Group presently has an average rating of "Buy" and a consensus target price of $20.80.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ BTDR traded down $0.56 during trading on Monday, reaching $16.36. 2,707,769 shares of the company traded hands, compared to its average volume of 5,272,120. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. The firm has a 50 day simple moving average of $13.74 and a 200-day simple moving average of $12.17. Bitdeer Technologies Group has a 52-week low of $6.61 and a 52-week high of $26.99. The stock has a market capitalization of $3.46 billion, a PE ratio of -3.47 and a beta of 2.23.

Institutional Investors Weigh In On Bitdeer Technologies Group

Large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its stake in Bitdeer Technologies Group by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company's stock worth $30,000 after purchasing an additional 1,044 shares during the period. Amalgamated Bank acquired a new stake in shares of Bitdeer Technologies Group in the 2nd quarter worth approximately $35,000. Stonebridge Financial Group LLC increased its stake in Bitdeer Technologies Group by 33.3% in the 1st quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company's stock valued at $35,000 after purchasing an additional 1,000 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Bitdeer Technologies Group during the first quarter worth $55,000. Finally, Tower Research Capital LLC TRC boosted its position in 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 purchasing an additional 7,157 shares in the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.