Bitdeer Technologies Group (NASDAQ:BTDR) Stock Rating Lowered by Wall Street Zen

Key Points

• Bitdeer Technologies Group's stock rating has been downgraded from a "hold" to a "sell" by Wall Street Zen, signaling a negative outlook for the company.
• Despite the downgrade, Bitdeer holds an average rating of "Buy" from analysts, with a consensus price target of $20.80.
• The company's stock has shown significant volatility, with a 1-year low of $5.40 and a high of $26.99.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday.

A number of other equities analysts have also recently commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $23.00 price objective on shares of Bitdeer Technologies Group in a research 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 Tuesday. 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. B. Riley reaffirmed a "buy" rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Finally, HC Wainwright lifted their price objective on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $20.80.

Bitdeer Technologies Group Price Performance

NASDAQ:BTDR opened at $13.35 on Friday. Bitdeer Technologies Group has a 1-year low of $5.40 and a 1-year high of $26.99. The company has a current ratio of 1.03, a quick ratio of 1.13 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $12.96 and a 200 day simple moving average of $12.19. The stock has a market capitalization of $1.49 billion, a PE ratio of -2.84 and a beta of 2.23.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Bitdeer Technologies Group by 3.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,358 shares of the company's stock valued at $636,000 after purchasing an additional 916 shares in the last quarter. Main Management ETF Advisors LLC raised its stake in Bitdeer Technologies Group by 1.6% in the second quarter. Main Management ETF Advisors LLC now owns 57,153 shares of the company's stock valued at $656,000 after purchasing an additional 924 shares in the last quarter. Stonebridge Financial Group LLC raised its stake in Bitdeer Technologies Group by 33.3% in the first quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company's stock valued at $35,000 after purchasing an additional 1,000 shares in the last quarter. Advisors Asset Management Inc. raised its stake 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 valued at $30,000 after purchasing an additional 1,044 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Bitdeer Technologies Group by 14.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 9,600 shares of the company's stock valued at $208,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors and hedge funds 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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