Bitdeer Technologies Group’s (BTDR) “Buy” Rating Reiterated at HC Wainwright

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $21.00 target price on the stock, down from their prior target price of $22.00. HC Wainwright’s price objective would indicate a potential upside of 126.78% from the stock’s current price.

Several other analysts have also recently issued reports on BTDR. Needham & Company LLC increased their price target on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 target price on shares of Bitdeer Technologies Group in a report on Monday. Benchmark raised their price target on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, December 9th. B. Riley upped their price objective on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Northland Securities lifted their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $22.50.

Bitdeer Technologies Group Trading Down 29.3 %

BTDR stock opened at $9.26 on Wednesday. The business’s fifty day moving average price is $18.78 and its 200 day moving average price is $12.81. Bitdeer Technologies Group has a 12-month low of $5.23 and a 12-month high of $26.99. The company has a market capitalization of $1.04 billion, a PE ratio of -17.81 and a beta of 2.04.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BTDR. Charles Schwab Investment Management Inc. boosted its stake in Bitdeer Technologies Group by 281.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock valued at $1,933,000 after acquiring an additional 182,110 shares in the last quarter. FengHe Fund Management Pte. Ltd. purchased a new position in Bitdeer Technologies Group in the 4th quarter valued at $10,378,000. Mirabella Financial Services LLP acquired a new position in shares of Bitdeer Technologies Group during the third quarter worth about $5,872,000. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $161,000. Finally, Geode Capital Management LLC lifted its holdings in Bitdeer Technologies Group by 14.6% in the third quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock valued at $2,886,000 after acquiring an additional 46,968 shares during the period. Hedge funds and other institutional investors 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.