Bitdeer Technologies Group (NASDAQ:BTDR) Receives "Buy" Rating from 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.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock had its "buy" rating restated by research analysts at Rosenblatt Securities in a note issued to investors on Monday,Benzinga reports. They presently have a $20.00 target price on the stock. Rosenblatt Securities' price target suggests a potential upside of 23.84% from the stock's current price.

Several other research firms also recently commented on BTDR. Benchmark reaffirmed a "buy" rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Needham & Company LLC reiterated a "buy" rating and set a $17.00 price target on shares of Bitdeer Technologies Group in a report on Friday, August 15th. B. Riley reissued a "buy" rating on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. HC Wainwright upped their price target on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Finally, Wall Street Zen cut shares of Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $20.80.

Bitdeer Technologies Group Stock Performance

BTDR opened at $16.15 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.03 and a quick ratio of 0.84. The business's 50-day moving average price is $13.45 and its two-hundred day moving average price is $12.04. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -3.44 and a beta of 2.23. Bitdeer Technologies Group has a 1 year low of $6.34 and a 1 year high of $26.99.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several institutional investors have recently made changes to their positions in BTDR. Vontobel Holding Ltd. purchased a new position in Bitdeer Technologies Group during the 1st quarter valued at about $227,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Bitdeer Technologies Group by 118.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,254 shares of the company's stock valued at $1,327,000 after acquiring an additional 33,182 shares during the period. SG Americas Securities LLC acquired a new stake in Bitdeer Technologies Group during the 1st quarter valued at approximately $505,000. SBI Securities Co. Ltd. increased its holdings in shares of Bitdeer Technologies Group by 507.1% during the 1st quarter. SBI Securities Co. Ltd. now owns 22,002 shares of the company's stock valued at $194,000 after purchasing an additional 18,378 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Bitdeer Technologies Group by 198.3% during the 1st quarter. Deutsche Bank AG now owns 49,301 shares of the company's stock valued at $435,000 after purchasing an additional 32,776 shares in the last quarter. 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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