Bitdeer Technologies Group (NASDAQ:BTDR) Reaches New 1-Year High – Still a Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) shares reached a new 52-week high on Thursday . The company traded as high as $17.67 and last traded at $16.08, with a volume of 13416375 shares trading hands. The stock had previously closed at $14.79.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BTDR. B. Riley cut their price target on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Northland Capmk upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Northland Securities raised their price objective on shares of Bitdeer Technologies Group from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Rosenblatt Securities raised their price objective on shares of Bitdeer Technologies Group from $9.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Roth Mkm raised their price objective on shares of Bitdeer Technologies Group from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $14.80.

Bitdeer Technologies Group Stock Up 8.7 %

The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -30.92 and a beta of 2.27. The company’s 50-day simple moving average is $9.44 and its 200-day simple moving average is $8.60.

Hedge Funds Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in Bitdeer Technologies Group in the 3rd quarter worth approximately $66,000. Centiva Capital LP acquired a new position in Bitdeer Technologies Group in the 3rd quarter worth approximately $91,000. Barclays PLC acquired a new position in Bitdeer Technologies Group in the 3rd quarter worth approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Bitdeer Technologies Group in the 3rd quarter worth approximately $169,000. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new position in Bitdeer Technologies Group in the 2nd quarter worth approximately $272,000. 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.