Bitdeer Technologies Group (NASDAQ:BTDR) Receives $21.00 Consensus PT from Analysts

Bitdeer Technologies Group (NASDAQ:BTDR) has earned an average rating of “Buy” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $21.00.

Several research firms have issued reports on BTDR. Roth Mkm reaffirmed a “buy” rating and set a $23.50 price target (down from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. B. Riley upped their target price 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. HC Wainwright reiterated a “buy” rating and set a $21.00 price target (down previously from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Rosenblatt Securities dropped their price objective on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Finally, Needham & Company LLC cut their price objective on Bitdeer Technologies Group from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th.

Bitdeer Technologies Group Stock Down 3.4 %

Shares of Bitdeer Technologies Group stock opened at $8.83 on Tuesday. The stock has a market cap of $988.66 million, a P/E ratio of -16.98 and a beta of 2.12. Bitdeer Technologies Group has a 12-month low of $5.23 and a 12-month high of $26.99. The business’s 50 day moving average is $13.68 and its 200-day moving average is $13.46.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $42,000. Stonebridge Financial Group LLC acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $65,000. Public Employees Retirement System of Ohio acquired a new position in Bitdeer Technologies Group during the third quarter valued at approximately $66,000. SBI Securities Co. Ltd. acquired a new position in Bitdeer Technologies Group during the fourth quarter valued at approximately $79,000. Finally, Centiva Capital LP bought a new stake in Bitdeer Technologies Group during the third quarter worth $91,000. 22.25% of the stock is 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.