Brokerages Set Bitdeer Technologies Group (NASDAQ:BTDR) Target Price at $19.60

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have been assigned a consensus rating of “Buy” from the eleven brokerages that are covering the company, Marketbeat.com reports. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $19.60.

Several research analysts recently weighed in on BTDR shares. Benchmark reiterated a “buy” rating and issued a $24.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, May 12th. Wall Street Zen upgraded Bitdeer Technologies Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. B. Riley increased their price objective on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. HC Wainwright restated a “buy” rating and set a $21.00 price target (down from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Finally, Needham & Company LLC raised their price target on Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, May 16th.

Bitdeer Technologies Group Stock Performance

Shares of Bitdeer Technologies Group stock opened at $13.29 on Friday. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -25.56 and a beta of 2.32. Bitdeer Technologies Group has a fifty-two week low of $5.40 and a fifty-two week high of $26.99. The stock has a 50 day moving average of $11.66 and a 200 day moving average of $14.46.

Institutional Trading of Bitdeer Technologies Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. FengHe Fund Management Pte. Ltd. acquired a new stake in Bitdeer Technologies Group in the fourth quarter valued at $10,378,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Bitdeer Technologies Group by 118.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,254 shares of the company’s stock worth $1,327,000 after buying an additional 33,182 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Bitdeer Technologies Group by 3,558.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company’s stock valued at $26,876,000 after purchasing an additional 1,206,361 shares in the last quarter. Bank of America Corp DE boosted its holdings in Bitdeer Technologies Group by 286.8% in the 4th quarter. Bank of America Corp DE now owns 73,253 shares of the company’s stock valued at $1,587,000 after purchasing an additional 54,314 shares in the last quarter. Finally, Yong Rong HK Asset Management Ltd purchased a new stake in Bitdeer Technologies Group in the 4th quarter valued at approximately $65,010,000. 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.