Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Expected to Rise, BTIG Research Analyst Says

Key Points

• BTIG Research has increased the price target for Bitdeer Technologies Group's stock from $23.00 to $25.00, indicating a potential upside of 22.25% from its current price.
• Twelve analysts have given Bitdeer Technologies a consensus rating of "Moderate Buy" with an average price target of $24.25, while only one analyst issued a "Sell" rating.
• Bitdeer Technologies Group's market cap stands at $4.33 billion, and the stock has shown significant institutional interest, with various firms increasing their stakes in the company.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) had its price objective upped by stock analysts at BTIG Research from $23.00 to $25.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. BTIG Research's target price suggests a potential upside of 22.25% from the company's current price.

A number of other equities analysts also recently issued reports on BTDR. B. Riley reaffirmed a "buy" rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a report on Monday, September 15th. Roth Capital raised their price target on shares of Bitdeer Technologies Group from $18.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Bitdeer Technologies Group in a report on Wednesday, October 8th. Finally, Benchmark reiterated a "buy" rating on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Bitdeer Technologies Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.25.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $20.45 on Tuesday. The business's fifty day simple moving average is $15.32 and its 200-day simple moving average is $13.13. The company has a market cap of $4.33 billion, a PE ratio of -4.35 and a beta of 2.25. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12. Bitdeer Technologies Group has a 12-month low of $6.84 and a 12-month high of $26.99.

Institutional Trading of Bitdeer Technologies Group

Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Bitdeer Technologies Group by 167.6% in the first quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company's stock valued at $4,265,000 after purchasing an additional 302,548 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in Bitdeer Technologies Group during the first quarter worth approximately $227,000. SG Americas Securities LLC acquired a new position in Bitdeer Technologies Group during the first quarter worth approximately $505,000. Deutsche Bank AG increased its position in Bitdeer Technologies Group by 198.3% during the first quarter. Deutsche Bank AG now owns 49,301 shares of the company's stock worth $435,000 after purchasing an additional 32,776 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its position in Bitdeer Technologies Group by 507.1% during the first quarter. SBI Securities Co. Ltd. now owns 22,002 shares of the company's stock worth $194,000 after purchasing an additional 18,378 shares during the last quarter. Hedge funds and other 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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