Rosenblatt Securities Reaffirms "Buy" Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Key Points

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Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock had its "buy" rating reissued by analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $20.00 price objective on the stock. Rosenblatt Securities' price objective suggests a potential upside of 39.28% from the stock's current price.

Several other equities research analysts have also recently weighed in on the company. Benchmark restated a "buy" rating on shares of Bitdeer Technologies Group in a research note on Friday. Cantor Fitzgerald restated an "overweight" rating and issued a $23.00 target price on shares of Bitdeer Technologies Group in a research note on Friday. B. Riley restated a "buy" rating on shares of Bitdeer Technologies Group in a research note on Friday. Wall Street Zen raised shares of Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, HC Wainwright lifted their price target on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Monday. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $20.80.

Bitdeer Technologies Group Stock Performance

NASDAQ:BTDR opened at $14.36 on Tuesday. The stock's 50-day simple moving average is $13.00 and its 200 day simple moving average is $12.24. The company has a market cap of $1.61 billion, a P/E ratio of -3.52 and a beta of 2.23. Bitdeer Technologies Group has a 52-week low of $5.40 and a 52-week high of $26.99.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in shares of Bitdeer Technologies Group by 7,157.0% in the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company's stock worth $83,000 after purchasing an additional 7,157 shares during the period. Vident Advisory LLC increased its stake in Bitdeer Technologies Group by 13.2% in the second quarter. Vident Advisory LLC now owns 775,776 shares of the company's stock valued at $8,906,000 after acquiring an additional 90,762 shares during the last quarter. Boothbay Fund Management LLC bought a new position in Bitdeer Technologies Group in the second quarter valued at $332,000. Bank of America Corp DE increased its stake in Bitdeer Technologies Group by 67.5% in the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company's stock valued at $72,753,000 after acquiring an additional 2,553,093 shares during the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in Bitdeer Technologies Group in the second quarter valued at $804,000. Institutional investors 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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