Bitdeer Technologies Group (NASDAQ:BTDR) Receives “Buy” Rating from Benchmark

Benchmark reiterated their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research report released on Tuesday morning,Benzinga reports. Benchmark currently has a $16.00 target price on the stock.

BTDR has been the topic of a number of other research reports. Northland Capmk upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Northland Securities raised their target price on Bitdeer Technologies Group from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday. HC Wainwright boosted their price target on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday. Rosenblatt Securities reissued a “buy” rating and set a $9.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Bitdeer Technologies Group has a consensus rating of “Buy” and an average price target of $14.80.

Bitdeer Technologies Group Stock Performance

Shares of BTDR opened at $11.54 on Tuesday. The firm has a market cap of $1.29 billion, a PE ratio of -22.19 and a beta of 1.92. The firm’s 50 day moving average price is $8.15 and its 200 day moving average price is $8.07. Bitdeer Technologies Group has a twelve month low of $3.91 and a twelve month high of $14.27.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in Bitdeer Technologies Group during the third quarter valued at about $66,000. Centiva Capital LP acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $91,000. Barclays PLC acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Bitdeer Technologies Group during the third quarter valued at approximately $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Bitdeer Technologies Group in the third quarter valued at $220,000. Institutional investors and hedge funds 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.