Bitdeer Technologies Group (NASDAQ:BTDR) Receives Buy Rating from Rosenblatt Securities

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Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock had its "buy" rating restated by analysts at Rosenblatt Securities in a research note issued on Tuesday,Benzinga reports. They currently have a $20.00 target price on the stock. Rosenblatt Securities' price objective would suggest a potential upside of 49.81% from the company's previous close.

Other analysts have also recently issued research reports about the stock. B. Riley reissued a "buy" rating on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $23.00 price target on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. HC Wainwright upped their price target on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Wall Street Zen raised shares of Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $17.00 price target on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $20.80.

Bitdeer Technologies Group Trading Up 5.9%

Shares of Bitdeer Technologies Group stock traded up $0.74 during trading on Tuesday, hitting $13.35. The company's stock had a trading volume of 3,775,139 shares, compared to its average volume of 3,139,933. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.03 and a quick ratio of 1.13. Bitdeer Technologies Group has a 52 week low of $5.40 and a 52 week high of $26.99. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -2.84 and a beta of 2.23. The stock has a 50-day moving average price of $12.96 and a two-hundred day moving average price of $12.16.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently made changes to their positions in BTDR. Bank of America Corp DE raised its holdings in shares of Bitdeer Technologies Group by 67.5% in the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company's stock worth $72,753,000 after acquiring an additional 2,553,093 shares during the last quarter. Geode Capital Management LLC increased its stake in Bitdeer Technologies Group by 197.7% in the 2nd 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 stake in Bitdeer Technologies Group by 178.2% in the 1st 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. Voloridge Investment Management LLC purchased a new stake in Bitdeer Technologies Group in the 4th quarter valued at about $16,834,000. Finally, Capital Fund Management S.A. purchased a new stake in Bitdeer Technologies Group in the 1st quarter valued at about $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.