Bitdeer Technologies Group’s (BTDR) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $20.00 price objective on the stock.

A number of other brokerages have also weighed in on BTDR. Wall Street Zen upgraded shares of Bitdeer Technologies Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. B. Riley reissued a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday. HC Wainwright boosted their price objective on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday. Benchmark reissued a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and set a $17.00 price objective on shares of Bitdeer Technologies Group in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. Based on data from MarketBeat.com, Bitdeer Technologies Group currently has an average rating of “Buy” and an average target price of $20.80.

Bitdeer Technologies Group Trading Down 9.9%

Shares of BTDR opened at $12.94 on Tuesday. The firm has a market cap of $1.45 billion, a PE ratio of -2.75 and a beta of 2.23. The firm has a fifty day simple moving average of $12.98 and a two-hundred day simple moving average of $12.25. Bitdeer Technologies Group has a 1-year low of $5.40 and a 1-year high of $26.99.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BTDR. Bank of America Corp DE boosted its holdings in Bitdeer Technologies Group by 67.5% in the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock worth $72,753,000 after buying an additional 2,553,093 shares during the period. Geode Capital Management LLC boosted its holdings in Bitdeer Technologies Group by 197.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock worth $18,280,000 after buying an additional 1,057,552 shares during the period. 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 worth $11,763,000 after buying an additional 853,300 shares during the period. Voloridge Investment Management LLC bought a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at about $16,834,000. Finally, Capital Fund Management S.A. bought a new position in shares of Bitdeer Technologies Group during the 1st quarter valued at about $6,835,000. 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.