Cantor Fitzgerald Forecasts Strong Price Appreciation for Bitdeer Technologies Group (NASDAQ:BTDR) Stock

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) had its target price boosted by equities research analysts at Cantor Fitzgerald from $21.00 to $23.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Cantor Fitzgerald's price target suggests a potential upside of 77.33% from the company's current price.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC raised their price objective on Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, June 16th. Benchmark reaffirmed a "buy" rating and set a $24.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, May 12th. B. Riley increased their price target on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Wall Street Zen upgraded Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bitdeer Technologies Group currently has a consensus rating of "Buy" and a consensus price target of $21.10.

Bitdeer Technologies Group Price Performance

NASDAQ:BTDR opened at $12.97 on Thursday. Bitdeer Technologies Group has a 1-year low of $5.40 and a 1-year high of $26.99. The company has a 50-day moving average of $13.02 and a 200 day moving average of $13.73. The firm has a market cap of $1.45 billion, a PE ratio of -3.18 and a beta of 2.22.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in BTDR. Trivest Advisors Ltd acquired a new position in Bitdeer Technologies Group during the fourth quarter worth $48,481,000. Renaissance Technologies LLC boosted its stake in Bitdeer Technologies Group by 3,558.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock worth $26,876,000 after buying an additional 1,206,361 shares during the last quarter. FengHe Fund Management Pte. Ltd. boosted its stake in Bitdeer Technologies Group by 178.2% during the first quarter. FengHe Fund Management Pte. Ltd. now owns 1,332,200 shares of the company's stock worth $11,763,000 after buying an additional 853,300 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in Bitdeer Technologies Group during the fourth quarter worth $16,834,000. Finally, Capital Fund Management S.A. acquired a new position in shares of Bitdeer Technologies Group in the 1st quarter valued at $6,835,000. 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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