Bitdeer Technologies Group (NASDAQ:BTDR) Receives $24.18 Consensus Target Price from Analysts

Bitdeer Technologies Group (NASDAQ:BTDR) has been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and eleven have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $24.1818.

BTDR has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $17.00 target price on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. B. Riley restated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Wall Street Zen downgraded shares of Bitdeer Technologies Group from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $23.00 target price on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Finally, Benchmark restated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th.

Bitdeer Technologies Group Stock Up 15.0%

NASDAQ BTDR opened at $20.45 on Friday. The stock has a fifty day moving average of $15.32 and a 200-day moving average of $13.13. The stock has a market capitalization of $4.33 billion, a P/E ratio of -4.35 and a beta of 2.25. Bitdeer Technologies Group has a 52 week low of $6.84 and a 52 week high of $26.99. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 1.03.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BTDR. Advisors Asset Management Inc. lifted its position in Bitdeer Technologies Group by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock valued at $30,000 after purchasing an additional 1,044 shares during the period. Stonebridge Financial Group LLC lifted its position in 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 acquired a new position in Bitdeer Technologies Group during the 2nd quarter valued at about $35,000. Caitong International Asset Management Co. Ltd acquired a new position in Bitdeer Technologies Group during the 1st quarter valued at about $55,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Bitdeer Technologies Group by 7,157.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after acquiring an additional 7,157 shares during the period. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.