Bitdeer Technologies Group (NASDAQ:BTDR) Given Buy Rating at Roth Mkm

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating restated by equities research analysts at Roth Mkm in a report released on Wednesday,Benzinga reports. They presently have a $23.50 target price on the stock, down from their previous target price of $29.00. Roth Mkm’s target price suggests a potential upside of 128.71% from the stock’s previous close.

A number of other equities research analysts have also weighed in on BTDR. Needham & Company LLC cut their target price on shares of Bitdeer Technologies Group from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday. Northland Securities boosted their price objective on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Benchmark lowered their price objective on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price objective (down previously from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday. Finally, B. Riley lifted their price target on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bitdeer Technologies Group currently has a consensus rating of “Buy” and an average price target of $21.18.

Bitdeer Technologies Group Stock Up 11.0 %

Shares of NASDAQ:BTDR traded up $1.02 during midday trading on Wednesday, hitting $10.28. 5,954,222 shares of the stock traded hands, compared to its average volume of 7,097,788. The stock has a market capitalization of $1.15 billion, a PE ratio of -19.86 and a beta of 2.04. Bitdeer Technologies Group has a one year low of $5.23 and a one year high of $26.99. The business’s 50 day moving average is $18.78 and its two-hundred day moving average is $12.81.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently made changes to their positions in BTDR. Yong Rong HK Asset Management Ltd bought a new position in Bitdeer Technologies Group in the 4th quarter worth about $65,010,000. Trivest Advisors Ltd acquired a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at about $48,481,000. Van ECK Associates Corp acquired a new stake in Bitdeer Technologies Group during the 4th quarter worth about $29,125,000. Renaissance Technologies LLC raised its stake in shares of Bitdeer Technologies Group by 3,558.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company’s stock valued at $26,876,000 after buying an additional 1,206,361 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in Bitdeer Technologies Group in the fourth quarter valued at $16,834,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.