Analysts Set Bitdeer Technologies Group (NASDAQ:BTDR) Target Price at $20.10

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have earned a consensus rating of “Buy” from the eleven ratings firms that are covering the stock, Marketbeat reports. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $20.10.

A number of brokerages have weighed in on BTDR. B. Riley upped their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Wall Street Zen upgraded shares of Bitdeer Technologies Group from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Needham & Company LLC upped their price objective on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Benchmark restated a “buy” rating and issued a $24.00 price objective on shares of Bitdeer Technologies Group in a report on Monday, May 12th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $20.00 price objective on shares of Bitdeer Technologies Group in a report on Monday, June 16th.

Bitdeer Technologies Group Stock Down 4.6%

NASDAQ BTDR opened at $13.13 on Thursday. Bitdeer Technologies Group has a twelve month low of $5.40 and a twelve month high of $26.99. The firm has a market capitalization of $1.47 billion, a PE ratio of -3.22 and a beta of 2.22. The stock’s 50 day moving average is $12.90 and its 200 day moving average is $13.74.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of large investors have recently added to or reduced their stakes in BTDR. Stonebridge Financial Group LLC raised its position in shares of Bitdeer Technologies Group by 33.3% during the 1st quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares during the period. Quarry LP bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at $42,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Bitdeer Technologies Group during the 1st quarter valued at $55,000. SBI Securities Co. Ltd. bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at $79,000. Finally, Wells Fargo & Company MN raised its position in shares of Bitdeer Technologies Group by 56.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock valued at $93,000 after purchasing an additional 1,540 shares during the period. 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.