Bitdeer Technologies Group (NASDAQ:BTDR) Receives $27.58 Average Target Price from Brokerages

Bitdeer Technologies Group (NASDAQ:BTDR) has been assigned an average rating of “Moderate Buy” from the thirteen analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and twelve have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $27.5833.

A number of research analysts recently weighed in on BTDR shares. Roth Capital reissued a “buy” rating and issued a $40.00 price objective on shares of Bitdeer Technologies Group in a research note on Wednesday, October 15th. BTIG Research lifted their price target on shares of Bitdeer Technologies Group from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Bitdeer Technologies Group in a report on Wednesday, October 15th. Benchmark reiterated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Monday, October 20th. Finally, HC Wainwright lifted their target price on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 18th.

Bitdeer Technologies Group Stock Performance

BTDR stock opened at $21.99 on Wednesday. The firm has a 50 day moving average of $19.02 and a two-hundred day moving average of $15.06. Bitdeer Technologies Group has a 12 month low of $6.84 and a 12 month high of $27.80. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of -4.68 and a beta of 2.28. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 0.12.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in shares of Bitdeer Technologies Group by 67.5% in the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after acquiring an additional 2,553,093 shares during the period. Geode Capital Management LLC raised its stake in Bitdeer Technologies Group by 197.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock valued at $18,280,000 after purchasing an additional 1,057,552 shares during the last quarter. FengHe Fund Management Pte. Ltd. boosted its holdings in Bitdeer Technologies Group by 178.2% in the 1st quarter. FengHe Fund Management Pte. Ltd. now owns 1,332,200 shares of the company’s stock valued at $11,763,000 after purchasing an additional 853,300 shares during the period. Capital Fund Management S.A. acquired a new stake in Bitdeer Technologies Group in the 1st quarter worth $6,835,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Bitdeer Technologies Group by 5,771.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 757,864 shares of the company’s stock worth $8,700,000 after purchasing an additional 744,956 shares during the period. 22.25% of the stock is owned by institutional investors.

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.