Bitdeer Technologies Group (NASDAQ:BTDR) Sets New 1-Year High Following Analyst Upgrade

Bitdeer Technologies Group (NASDAQ:BTDR) reached a new 52-week high during trading on Wednesday after Cantor Fitzgerald raised their price target on the stock from $30.00 to $50.00. Cantor Fitzgerald currently has an overweight rating on the stock. Bitdeer Technologies Group traded as high as $27.80 and last traded at $25.27, with a volume of 9981688 shares changing hands. The stock had previously closed at $20.12.

A number of other equities research analysts also recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, October 8th. Roth Capital restated a “buy” rating and issued a $40.00 price target on shares of Bitdeer Technologies Group in a report on Wednesday. B. Riley restated a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. HC Wainwright increased their price target on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 18th. Finally, Wall Street Zen downgraded Bitdeer Technologies Group from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Twelve analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BTDR. Advisors Asset Management Inc. boosted its position in shares of 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 period. Stonebridge Financial Group LLC boosted its position in shares of Bitdeer Technologies Group by 33.3% during the first quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company’s stock worth $35,000 after buying an additional 1,000 shares during the period. Amalgamated Bank acquired a new position in shares of Bitdeer Technologies Group during the second quarter worth about $35,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Bitdeer Technologies Group during the first quarter worth about $55,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Bitdeer Technologies Group by 7,157.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock worth $83,000 after buying an additional 7,157 shares during the period. 22.25% of the stock is owned by institutional investors and hedge funds.

Bitdeer Technologies Group Stock Up 28.7%

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.03 and a quick ratio of 0.84. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of -5.51 and a beta of 2.25. The firm has a 50-day moving average price of $15.72 and a two-hundred day moving average price of $13.26.

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.