B. Riley Forecasts Strong Price Appreciation for Bitdeer Technologies Group (NASDAQ:BTDR) Stock

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price boosted by B. Riley from $15.00 to $24.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently issued reports on the stock. Alliance Global Partners began coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They set a “buy” rating and a $14.00 price target for the company. Northland Securities raised their target price on Bitdeer Technologies Group from $14.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. HC Wainwright upped their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Roth Mkm lifted their price objective on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Benchmark lifted their target price on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Bitdeer Technologies Group presently has an average rating of “Buy” and a consensus target price of $19.80.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ BTDR traded up $0.34 during midday trading on Thursday, reaching $18.48. The company’s stock had a trading volume of 1,430,589 shares, compared to its average volume of 3,005,865. The business’s 50 day moving average price is $12.27 and its two-hundred day moving average price is $9.67. Bitdeer Technologies Group has a fifty-two week low of $5.23 and a fifty-two week high of $25.51. The company has a market cap of $2.07 billion, a P/E ratio of -35.54 and a beta of 2.27.

Institutional Trading of Bitdeer Technologies Group

Several large investors have recently made changes to their positions in BTDR. Mirabella Financial Services LLP purchased a new position in Bitdeer Technologies Group in the third quarter worth approximately $5,872,000. D1 Capital Partners L.P. purchased a new stake in shares of Bitdeer Technologies Group during the second quarter worth approximately $5,386,000. Marshall Wace LLP acquired a new stake in Bitdeer Technologies Group in the second quarter valued at approximately $5,074,000. Point72 Asset Management L.P. purchased a new position in Bitdeer Technologies Group in the second quarter worth approximately $4,617,000. Finally, Point72 Hong Kong Ltd acquired a new position in Bitdeer Technologies Group during the 2nd quarter worth approximately $4,510,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.