Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Expected to Rise, Northland Securities Analyst Says

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price lifted by stock analysts at Northland Securities from $14.00 to $20.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price objective would suggest a potential upside of 17.79% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright increased their target price on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. B. Riley lowered their target price on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Benchmark reaffirmed a “buy” rating and set a $16.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $15.90.

Bitdeer Technologies Group Price Performance

BTDR stock opened at $16.98 on Friday. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -32.65 and a beta of 2.27. The company has a fifty day moving average price of $9.62 and a 200 day moving average price of $8.66. Bitdeer Technologies Group has a 12 month low of $5.21 and a 12 month high of $19.49.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $66,000. Centiva Capital LP acquired a new position in Bitdeer Technologies Group during the third quarter worth about $91,000. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $169,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in Bitdeer Technologies Group by 96.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock valued at $347,000 after buying an additional 21,798 shares in the last quarter. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.