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

Bitdeer Technologies Group (NASDAQ:BTDR) has been given a consensus recommendation of “Buy” by the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $21.00.

BTDR has been the subject of a number of research analyst reports. Wall Street Zen raised Bitdeer Technologies Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Benchmark reissued a “buy” rating and set a $24.00 price target on shares of Bitdeer Technologies Group in a research note on Monday, May 12th. Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of Bitdeer Technologies Group in a report on Monday, June 16th. Cantor Fitzgerald raised their price objective on Bitdeer Technologies Group from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Finally, Needham & Company LLC raised their price objective on Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, May 16th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at $42,000. Stonebridge Financial Group LLC increased its holdings in shares of Bitdeer Technologies Group by 33.3% in the 1st quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company’s stock valued at $35,000 after acquiring an additional 1,000 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Bitdeer Technologies Group by 56.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock valued at $93,000 after acquiring an additional 1,540 shares during the period. Quantbot Technologies LP purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at $116,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Bitdeer Technologies Group in the 1st quarter valued at $55,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $14.64 on Monday. Bitdeer Technologies Group has a 52-week low of $5.40 and a 52-week high of $26.99. The firm has a market capitalization of $1.64 billion, a P/E ratio of -3.59 and a beta of 2.22. The stock has a 50 day moving average price of $13.29 and a 200 day moving average price of $12.91.

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.