Bitdeer Technologies Group's (BTDR) "Buy" Rating Reiterated at Rosenblatt Securities

Key Points

• Rosenblatt Securities reiterated a "buy" rating for Bitdeer Technologies Group (BTDR) with a price target of $20.00, suggesting a potential downside of 0.60% from its previous close.
• The stock has received multiple "buy" ratings from analysts, with a consensus rating of "Moderate Buy" and a target price of $24.25 from twelve analysts.
• Bitdeer Technologies Group's stock has shown significant volatility, with a 52-week low of $6.84 and a high of $26.99, currently trading around $20.12.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Rosenblatt Securities in a research report issued on Wednesday,Benzinga reports. They presently have a $20.00 price target on the stock. Rosenblatt Securities' target price would indicate a potential downside of 0.60% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. Benchmark reissued a "buy" rating on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Wall Street Zen cut Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. BTIG Research lifted their price objective on Bitdeer Technologies Group from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday. HC Wainwright lifted their price objective on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $23.00 price objective on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.25.

Bitdeer Technologies Group Stock Performance

Shares of BTDR opened at $20.12 on Wednesday. The business's 50 day moving average is $15.47 and its two-hundred day moving average is $13.17. Bitdeer Technologies Group has a 52-week low of $6.84 and a 52-week high of $26.99. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of -4.28 and a beta of 2.25. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of large investors have recently modified their holdings of BTDR. Advisors Asset Management Inc. lifted its stake in shares of Bitdeer Technologies Group by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company's stock valued at $30,000 after acquiring an additional 1,044 shares during the last quarter. Stonebridge Financial Group LLC lifted its stake in shares of Bitdeer Technologies Group by 33.3% in 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 position in shares of Bitdeer Technologies Group in the 2nd quarter valued at $35,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Bitdeer Technologies Group in the 1st quarter valued at $55,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Bitdeer Technologies Group by 7,157.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company's stock valued at $83,000 after acquiring an additional 7,157 shares during the last quarter. Institutional investors and hedge funds own 22.25% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.