Roth Mkm Issues Positive Forecast for Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price upped by research analysts at Roth Mkm from $14.00 to $15.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s target price points to a potential upside of 30.55% from the stock’s previous close.

A number of other research firms also recently commented on BTDR. Northland Securities increased their target price on Bitdeer Technologies Group from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday. Rosenblatt Securities restated a “buy” rating and set a $9.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. Benchmark reiterated a “buy” rating and set a $16.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $14.00.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ:BTDR traded down $0.36 during trading on Tuesday, hitting $11.49. The company’s stock had a trading volume of 1,202,448 shares, compared to its average volume of 2,245,686. Bitdeer Technologies Group has a fifty-two week low of $3.91 and a fifty-two week high of $14.27. The company has a market capitalization of $1.29 billion, a PE ratio of -60.47 and a beta of 1.92. The stock’s 50-day moving average price is $8.04 and its two-hundred day moving average price is $8.02.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently made changes to their positions in BTDR. Vident Advisory LLC raised its stake in 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 acquiring an additional 565,362 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Bitdeer Technologies Group during the first quarter valued at about $431,000. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in Bitdeer Technologies Group in the second quarter worth about $272,000. Thomist Capital Management LP bought a new position in Bitdeer Technologies Group in the 2nd quarter valued at about $1,156,000. Finally, XTX Topco Ltd acquired a new position in Bitdeer Technologies Group during the 2nd quarter valued at about $276,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.