Cantor Fitzgerald Forecasts Strong Price Appreciation for Bitdeer Technologies Group (NASDAQ:BTDR) Stock

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target lifted by stock analysts at Cantor Fitzgerald from $30.00 to $50.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 93.20% from the stock’s previous close.

BTDR has been the topic of several other research reports. Wall Street Zen lowered shares of Bitdeer Technologies Group from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. HC Wainwright lifted their target price on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, October 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price target on shares of Bitdeer Technologies Group in a research note on Wednesday. Finally, B. Riley reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.58.

Bitdeer Technologies Group Stock Performance

NASDAQ:BTDR opened at $25.88 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of -5.51 and a beta of 2.25. The firm’s fifty day simple moving average is $15.98 and its 200 day simple moving average is $13.38. Bitdeer Technologies Group has a twelve month low of $6.84 and a twelve month high of $27.80.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in shares of Bitdeer Technologies Group by 167.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock worth $4,265,000 after purchasing an additional 302,548 shares during the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Bitdeer Technologies Group in the 1st quarter worth about $227,000. SG Americas Securities LLC bought a new stake in shares of Bitdeer Technologies Group in the 1st quarter worth about $505,000. Deutsche Bank AG increased its position in shares of Bitdeer Technologies Group by 198.3% in the 1st quarter. Deutsche Bank AG now owns 49,301 shares of the company’s stock worth $435,000 after purchasing an additional 32,776 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its position in shares of Bitdeer Technologies Group by 507.1% in the 1st quarter. SBI Securities Co. Ltd. now owns 22,002 shares of the company’s stock worth $194,000 after purchasing an additional 18,378 shares during the last quarter. 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.