Roth Capital Boosts Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $40.00

Key Points

• Analysts at Roth Capital have raised their price target for Bitdeer Technologies Group from $18.00 to $40.00, indicating a potential upside of 127.01% from its previous close.
• The current consensus rating for Bitdeer Technologies Group is "Buy," with an average target price of $22.55 among various analysts.
• Bitdeer Technologies Group's shares have seen significant trading activity, with a recent price of $17.62 and a market capitalization of $3.73 billion.

Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) had its price objective upped by Roth Capital from $18.00 to $40.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen cut Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Benchmark reaffirmed a "buy" rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. 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. B. Riley reaffirmed a "buy" rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the stock. Based on data from MarketBeat, Bitdeer Technologies Group has an average rating of "Buy" and a consensus price target of $22.55.

Bitdeer Technologies Group Stock Performance

Bitdeer Technologies Group stock traded down $0.40 during trading hours on Monday, hitting $17.56. 2,385,021 shares of the stock traded hands, compared to its average volume of 5,292,925. 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 firm's 50 day moving average price is $13.89 and its 200-day moving average price is $12.27. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of -3.74 and a beta of 2.23. Bitdeer Technologies Group has a 1 year low of $6.61 and a 1 year high of $26.99.

Institutional Trading of Bitdeer Technologies Group

Several hedge funds have recently modified their holdings of BTDR. Bank of America Corp DE increased its holdings in Bitdeer Technologies Group by 67.5% in the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company's stock valued at $72,753,000 after buying an additional 2,553,093 shares during the last quarter. Geode Capital Management LLC increased its holdings in Bitdeer Technologies Group by 197.7% in the second quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company's stock valued at $18,280,000 after buying an additional 1,057,552 shares during the last quarter. FengHe Fund Management Pte. Ltd. increased its holdings in Bitdeer Technologies Group by 178.2% in the first quarter. FengHe Fund Management Pte. Ltd. now owns 1,332,200 shares of the company's stock valued at $11,763,000 after buying an additional 853,300 shares during the last quarter. Capital Fund Management S.A. purchased a new position in Bitdeer Technologies Group in the first quarter valued at $6,835,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Bitdeer Technologies Group by 5,771.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 757,864 shares of the company's stock valued at $8,700,000 after buying an additional 744,956 shares during 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.