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

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 - Get Free Report) had its price objective increased by analysts at Roth Capital from $18.00 to $40.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Roth Capital's target price would indicate a potential upside of 127.01% from the company's previous close.

A number of other brokerages have also weighed in on BTDR. HC Wainwright raised their price objective on Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Monday, August 18th. 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. Wall Street Zen downgraded shares of Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 price target on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Finally, Benchmark reaffirmed a "buy" rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $22.55.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock traded up $1.17 during trading on Monday, reaching $17.62. 5,944,127 shares of the stock traded hands, compared to its average volume of 5,289,918. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -3.74 and a beta of 2.23. The business has a fifty day simple moving average of $13.80 and a two-hundred day simple moving average of $12.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.03 and a quick ratio of 0.84. Bitdeer Technologies Group has a 52-week low of $6.61 and a 52-week high of $26.99.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several institutional investors have recently bought and sold shares of BTDR. Advisors Asset Management Inc. grew its holdings in Bitdeer Technologies Group by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company's stock worth $30,000 after purchasing an additional 1,044 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of Bitdeer Technologies Group during the second quarter worth $35,000. Stonebridge Financial Group LLC lifted its stake in shares of Bitdeer Technologies Group by 33.3% during the first quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company's stock worth $35,000 after buying an additional 1,000 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Bitdeer Technologies Group during the first quarter worth $55,000. Finally, Tower Research Capital LLC TRC lifted 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 worth $83,000 after buying an additional 7,157 shares during the period. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.

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