Benchmark Raises Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $29.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target increased by research analysts at Benchmark from $16.00 to $29.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 37.44% from the stock’s current price.

BTDR has been the topic of several other reports. Alliance Global Partners assumed coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, October 8th. They set a “buy” rating and a $14.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday, November 19th. Rosenblatt Securities boosted their price target on Bitdeer Technologies Group from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday. B. Riley cut their price target on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Northland Securities upped their price objective on shares of Bitdeer Technologies Group from $14.00 to $20.00 and gave the company an “outperform” rating in a report on Friday. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $17.20.

Bitdeer Technologies Group Price Performance

BTDR stock traded up $0.09 during midday trading on Monday, hitting $21.10. The company’s stock had a trading volume of 10,712,093 shares, compared to its average volume of 2,686,409. Bitdeer Technologies Group has a twelve month low of $5.23 and a twelve month high of $22.86. The stock has a market capitalization of $2.36 billion, a P/E ratio of -40.58 and a beta of 2.26. The company’s fifty day moving average price is $9.87 and its 200 day moving average price is $8.81.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BTDR. Public Employees Retirement System of Ohio bought a new stake in shares of Bitdeer Technologies Group in the third quarter valued at approximately $66,000. Centiva Capital LP bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at $91,000. Barclays PLC acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Bitdeer Technologies Group in the third quarter worth $220,000. 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.