Bitdeer Technologies Group (NASDAQ:BTDR) Given Average Rating of “Moderate Buy” by Brokerages

Bitdeer Technologies Group (NASDAQ:BTDR) has received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $27.5833.

Several analysts have recently issued reports on the company. Cantor Fitzgerald increased their price objective on Bitdeer Technologies Group from $30.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, October 8th. HC Wainwright increased their price target on Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 18th. Roth Capital reiterated a “buy” rating and issued a $40.00 price objective on shares of Bitdeer Technologies Group in a research note on Wednesday, October 15th. Finally, BTIG Research boosted their price objective on Bitdeer Technologies Group from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th.

Bitdeer Technologies Group Trading Up 3.6%

Shares of NASDAQ BTDR opened at $21.99 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $4.66 billion, a PE ratio of -4.68 and a beta of 2.28. Bitdeer Technologies Group has a twelve month low of $6.84 and a twelve month high of $27.80. The stock has a fifty day simple moving average of $19.02 and a 200-day simple moving average of $15.14.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently modified their holdings of BTDR. Advisors Asset Management Inc. grew its stake in shares of Bitdeer Technologies Group by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock worth $30,000 after purchasing an additional 1,044 shares in the last quarter. Amalgamated Bank acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth about $35,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Bitdeer Technologies Group in the 1st quarter valued at about $55,000. Tower Research Capital LLC TRC raised its position in shares of Bitdeer Technologies Group by 7,157.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock worth $83,000 after acquiring an additional 7,157 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Bitdeer Technologies Group during the 2nd quarter worth about $105,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.