Bitdeer Technologies Group (NASDAQ:BTDR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Bitdeer Technologies Group (NASDAQ:BTDR) has been given an average rating of “Moderate Buy” by the twelve ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $24.1818.

A number of brokerages have recently issued reports on BTDR. B. Riley reiterated a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Benchmark reissued a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Roth Capital raised their price target on shares of Bitdeer Technologies Group from $18.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Wall Street Zen lowered shares of Bitdeer Technologies Group from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research report on Wednesday.

Bitdeer Technologies Group Stock Down 13.3%

Shares of NASDAQ BTDR opened at $17.78 on Friday. The stock has a market capitalization of $3.76 billion, a P/E ratio of -3.78 and a beta of 2.25. The company has a 50-day moving average price of $15.17 and a 200-day moving average price of $13.01. Bitdeer Technologies Group has a 1 year low of $6.72 and a 1 year high of $26.99. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.03 and a quick ratio of 0.84.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in Bitdeer Technologies Group by 167.6% in the first quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock worth $4,265,000 after acquiring an additional 302,548 shares during the period. Vontobel Holding Ltd. bought a new stake in Bitdeer Technologies Group in the first quarter worth about $227,000. SG Americas Securities LLC bought a new stake in Bitdeer Technologies Group in the first quarter worth about $505,000. Deutsche Bank AG raised its position in Bitdeer Technologies Group by 198.3% in the first quarter. Deutsche Bank AG now owns 49,301 shares of the company’s stock worth $435,000 after acquiring an additional 32,776 shares during the period. Finally, SBI Securities Co. Ltd. raised its position in Bitdeer Technologies Group by 507.1% in the first quarter. SBI Securities Co. Ltd. now owns 22,002 shares of the company’s stock worth $194,000 after acquiring an additional 18,378 shares during the period. 22.25% of the stock is owned by institutional investors.

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.