Rosenblatt Securities Reiterates Buy Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating reissued by research analysts at Rosenblatt Securities in a report issued on Monday,Benzinga reports. They presently have a $20.00 price target on the stock. Rosenblatt Securities’ price target indicates a potential upside of 23.84% from the company’s current price.

Several other brokerages have also commented on BTDR. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 price target on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. B. Riley reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Needham & Company LLC reissued a “buy” rating and issued a $17.00 target price on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Wall Street Zen cut Bitdeer Technologies Group from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. Finally, HC Wainwright lifted their price target on Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $20.80.

Bitdeer Technologies Group Stock Up 14.5%

Shares of NASDAQ:BTDR opened at $16.15 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.03 and a quick ratio of 0.84. The firm has a market capitalization of $3.42 billion, a PE ratio of -3.44 and a beta of 2.23. The firm’s 50-day moving average is $13.45 and its two-hundred day moving average is $12.04. Bitdeer Technologies Group has a 1 year low of $6.34 and a 1 year high of $26.99.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. bought a new stake in shares of Bitdeer Technologies Group in the first quarter valued at about $227,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Bitdeer Technologies Group by 118.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,254 shares of the company’s stock worth $1,327,000 after acquiring an additional 33,182 shares in the last quarter. SG Americas Securities LLC acquired a new position in Bitdeer Technologies Group during the first quarter worth approximately $505,000. SBI Securities Co. Ltd. increased its position in Bitdeer Technologies Group by 507.1% during the first quarter. SBI Securities Co. Ltd. now owns 22,002 shares of the company’s stock worth $194,000 after buying an additional 18,378 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Bitdeer Technologies Group by 198.3% in the first quarter. Deutsche Bank AG now owns 49,301 shares of the company’s stock valued at $435,000 after purchasing an additional 32,776 shares during the last quarter. 22.25% of the stock is owned by institutional investors and hedge funds.

About Bitdeer Technologies Group

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.