Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) had its target price raised by stock analysts at Cantor Fitzgerald from $30.00 to $50.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective points to a potential upside of 98.09% from the stock's previous close.
Several other research firms have also commented on BTDR. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a research report on Wednesday. Benchmark reissued a "buy" rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $17.00 price objective on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. BTIG Research upped their price target on shares of Bitdeer Technologies Group from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Roth Capital reissued a "buy" rating and set a $40.00 target price on shares of Bitdeer Technologies Group in a research note on Wednesday. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Bitdeer Technologies Group currently has a consensus rating of "Moderate Buy" and an average price target of $26.50.
Read Our Latest Research Report on BTDR
Bitdeer Technologies Group Stock Up 25.5%
Shares of NASDAQ:BTDR traded up $5.12 during trading on Wednesday, hitting $25.24. The company's stock had a trading volume of 5,075,009 shares, compared to its average volume of 5,462,114. The company has a market capitalization of $5.34 billion, a PE ratio of -5.33 and a beta of 2.25. The business has a 50 day moving average price of $15.47 and a two-hundred day moving average price of $13.17. Bitdeer Technologies Group has a fifty-two week low of $6.84 and a fifty-two week high of $26.99. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 1.03.
Institutional Trading of Bitdeer Technologies Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BTDR. Advisors Asset Management Inc. boosted its holdings in shares of 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 buying an additional 1,044 shares in the last quarter. Stonebridge Financial Group LLC boosted its position in shares of Bitdeer Technologies Group by 33.3% during 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 during the last quarter. Amalgamated Bank bought a new stake in Bitdeer Technologies Group in the 2nd quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd bought a new stake in Bitdeer Technologies Group in the first quarter valued at approximately $55,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of 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 valued at $83,000 after buying an additional 7,157 shares during the period. Institutional investors and hedge funds own 22.25% of the company's stock.
About Bitdeer Technologies Group
(
Get Free Report)
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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