Bitdeer Technologies Group (NASDAQ:BTDR) Reaches New 12-Month High – Time to Buy?

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) hit a new 52-week high during trading on Monday . The company traded as high as $26.99 and last traded at $26.41, with a volume of 1804400 shares trading hands. The stock had previously closed at $26.10.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BTDR. Benchmark increased their price target on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Alliance Global Partners assumed coverage on Bitdeer Technologies Group in a research report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 target price on the stock. Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Northland Securities upped their price target on shares of Bitdeer Technologies Group from $14.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $19.80.

Bitdeer Technologies Group Stock Down 15.4 %

The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -37.88 and a beta of 2.09. The stock’s 50 day moving average is $16.02 and its 200 day moving average is $10.99.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new position in Bitdeer Technologies Group during the 3rd quarter worth approximately $66,000. Centiva Capital LP acquired a new stake in shares of Bitdeer Technologies Group in the third quarter worth $91,000. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group during the third quarter valued at $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Bitdeer Technologies Group during the third quarter valued at $169,000. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Bitdeer Technologies Group in the 2nd quarter worth about $272,000. 22.25% of the stock is owned by 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.