Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Raised to $18.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target raised by HC Wainwright from $17.00 to $18.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a report on Thursday, September 26th. Northland Securities boosted their target price on shares of Bitdeer Technologies Group from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday. Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Finally, Alliance Global Partners started coverage on Bitdeer Technologies Group in a research report on Tuesday, October 8th. They set a “buy” rating and a $14.00 price objective for the company. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $14.80.

Bitdeer Technologies Group Stock Down 5.9 %

Shares of Bitdeer Technologies Group stock opened at $11.19 on Tuesday. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -21.52 and a beta of 1.92. The stock’s 50-day simple moving average is $8.35 and its 200-day simple moving average is $8.11. Bitdeer Technologies Group has a 52 week low of $3.97 and a 52 week high of $14.27.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BTDR. Mirabella Financial Services LLP purchased a new stake in Bitdeer Technologies Group during the third quarter valued at approximately $5,872,000. Vident Advisory LLC increased its position in shares of Bitdeer Technologies Group by 186.4% during the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock valued at $6,098,000 after purchasing an additional 565,362 shares during the last quarter. D1 Capital Partners L.P. bought a new position in shares of Bitdeer Technologies Group during the 2nd quarter valued at approximately $5,386,000. Marshall Wace LLP purchased a new stake in Bitdeer Technologies Group during the 2nd quarter valued at $5,074,000. Finally, Point72 Asset Management L.P. bought a new stake in Bitdeer Technologies Group in the second quarter worth $4,617,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.