Bitdeer Technologies Group (NASDAQ:BTDR) Earns “Buy” Rating from Roth Mkm

Roth Mkm reissued their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research note published on Wednesday morning,Benzinga reports. The firm currently has a $23.50 price target on the stock, down from their previous price target of $29.00.

Several other equities research analysts have also weighed in on the stock. Needham & Company LLC lowered their target price on shares of Bitdeer Technologies Group from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 target price (down previously from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday. Northland Securities upped their target price on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Benchmark lowered their target price on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $30.00 target price on shares of Bitdeer Technologies Group in a report on Monday, February 24th. Eleven 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.com, Bitdeer Technologies Group presently has an average rating of “Buy” and a consensus price target of $21.18.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $12.31 on Wednesday. Bitdeer Technologies Group has a 52-week low of $5.23 and a 52-week high of $26.99. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -23.67 and a beta of 2.04. The firm has a fifty day moving average of $18.29 and a 200-day moving average of $12.81.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Bitdeer Technologies Group during the 4th quarter worth about $566,000. Public Employees Retirement System of Ohio boosted its stake in shares of Bitdeer Technologies Group by 14.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 9,600 shares of the company’s stock valued at $208,000 after purchasing an additional 1,200 shares during the last quarter. Two Seas Capital LP bought a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $9,384,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Bitdeer Technologies Group by 118.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,254 shares of the company’s stock valued at $1,327,000 after purchasing an additional 33,182 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $16,834,000. Institutional investors own 22.25% of the company’s stock.

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.