Bitdeer Technologies Group (NASDAQ:BTDR) Receives Average Rating of “Buy” from Brokerages

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have earned a consensus recommendation of “Buy” from the eight brokerages that are presently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $14.00.

BTDR has been the topic of a number of research analyst reports. B. Riley raised their price objective on shares of Bitdeer Technologies Group from $9.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Cantor Fitzgerald upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, June 12th. HC Wainwright reduced their price target on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $9.00 price target on shares of Bitdeer Technologies Group in a research note on Wednesday, August 14th. Finally, Roth Mkm reissued a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a research note on Monday, July 1st.

Bitdeer Technologies Group Trading Up 2.1 %

Bitdeer Technologies Group stock opened at $6.46 on Monday. The company’s 50-day moving average price is $9.51 and its two-hundred day moving average price is $7.67. The stock has a market cap of $723.30 million, a price-to-earnings ratio of -15.76 and a beta of 1.96. Bitdeer Technologies Group has a 52 week low of $2.77 and a 52 week high of $14.65.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vontobel Holding Ltd. acquired a new stake in Bitdeer Technologies Group in the 4th quarter worth approximately $240,000. Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of Bitdeer Technologies Group in the second quarter valued at approximately $272,000. XTX Topco Ltd acquired a new stake in shares of Bitdeer Technologies Group in the second quarter worth $276,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Bitdeer Technologies Group by 149.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock worth $384,000 after buying an additional 23,310 shares during the period. Finally, Virtu Financial LLC acquired a new position in Bitdeer Technologies Group in the 1st quarter valued at $431,000. 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.