Bitdeer Technologies Group (NASDAQ:BTDR) Receives Consensus Recommendation of “Buy” from Brokerages

Bitdeer Technologies Group (NASDAQ:BTDR) has earned an average recommendation of “Buy” from the eleven research firms that are currently covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $21.00.

BTDR has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating and set a $21.00 price target (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Northland Securities upped their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Benchmark cut their price target on Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Rosenblatt Securities lowered their price objective on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, Needham & Company LLC reduced their target price on shares of Bitdeer Technologies Group from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in Bitdeer Technologies Group during the fourth quarter valued at $42,000. Stonebridge Financial Group LLC acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $65,000. Public Employees Retirement System of Ohio bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $66,000. SBI Securities Co. Ltd. acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth approximately $79,000. Finally, Centiva Capital LP bought a new stake in Bitdeer Technologies Group in the third quarter worth approximately $91,000. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Trading Down 3.4 %

Shares of Bitdeer Technologies Group stock opened at $8.83 on Tuesday. The firm’s 50 day moving average is $13.68 and its 200 day moving average is $13.46. The firm has a market capitalization of $988.66 million, a PE ratio of -16.98 and a beta of 2.12. Bitdeer Technologies Group has a 1 year low of $5.23 and a 1 year high of $26.99.

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.