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

Bitdeer Technologies Group (NASDAQ:BTDR) has been assigned an average recommendation of “Buy” from the eleven brokerages that are covering the company, Marketbeat reports. Ten analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $20.80.

A number of research analysts have recently commented on BTDR shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 target price on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday. Benchmark restated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. HC Wainwright upped their target price on Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday. Finally, Needham & Company LLC reissued a “buy” rating and set a $17.00 target price on shares of Bitdeer Technologies Group in a research note on Friday, August 15th.

Bitdeer Technologies Group Price Performance

Bitdeer Technologies Group stock opened at $12.61 on Friday. The firm has a market cap of $1.41 billion, a PE ratio of -2.68 and a beta of 2.23. The stock’s fifty day moving average price is $12.94 and its two-hundred day moving average price is $12.22. Bitdeer Technologies Group has a one year low of $5.40 and a one year high of $26.99. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.03 and a quick ratio of 1.13.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its holdings in 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 buying an additional 1,044 shares during the last quarter. Stonebridge Financial Group LLC raised its stake in shares of Bitdeer Technologies Group by 33.3% during the 1st quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares during the period. Amalgamated Bank bought a new stake in shares of Bitdeer Technologies Group during the second quarter valued at about $35,000. Quarry LP bought a new stake in Bitdeer Technologies Group during the 4th quarter worth approximately $42,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Bitdeer Technologies Group in the first quarter worth $55,000. 22.25% of the stock is owned by institutional investors.

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.