Brokerages Set Bitdeer Technologies Group (NASDAQ:BTDR) PT at $20.80

Key Points

• Bitdeer Technologies Group (NASDAQ:BTDR) has received a consensus rating of "Buy" from eleven research firms, with an average 12-month price target of $20.80.
• Institutional investors have shown increased interest, with notable positions such as Advisors Asset Management Inc. raising their stake by 68.4%.
• Despite a positive outlook, Bitdeer Technologies Group's stock experienced a 1.4% decline, trading at $15.93 and having a market cap of $3.37 billion.

Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) have been given a consensus recommendation of "Buy" by the eleven analysts that are presently covering the firm, MarketBeat.com reports. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $20.80.

Several research firms have commented on BTDR. Wall Street Zen downgraded shares of Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Needham & Company LLC reissued a "buy" rating and issued a $17.00 price target on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, September 15th. B. Riley restated a "buy" rating on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $23.00 price target on shares of Bitdeer Technologies Group in a report on Friday, August 15th.

Bitdeer Technologies Group Stock Down 2.8%

Shares of NASDAQ:BTDR traded down $0.47 during trading on Tuesday, reaching $16.45. 5,865,192 shares of the company traded hands, compared to its average volume of 4,608,198. Bitdeer Technologies Group has a 1-year low of $6.61 and a 1-year high of $26.99. 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 market cap of $3.48 billion, a P/E ratio of -3.50 and a beta of 2.23. The firm has a fifty day simple moving average of $13.80 and a 200 day simple moving average of $12.21.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. lifted its stake in Bitdeer Technologies Group by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company's stock valued at $30,000 after acquiring an additional 1,044 shares in the last quarter. Amalgamated Bank bought a new stake in Bitdeer Technologies Group in the 2nd quarter valued at approximately $35,000. Stonebridge Financial Group LLC lifted 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 acquiring an additional 1,000 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Bitdeer Technologies Group in the 1st quarter valued at approximately $55,000. Finally, Tower Research Capital LLC TRC lifted its stake in Bitdeer Technologies Group by 7,157.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company's stock valued at $83,000 after acquiring an additional 7,157 shares in the last quarter. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Company Profile

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.