Bitdeer Technologies Group (NASDAQ:BTDR) Receives Buy Rating from Benchmark

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating restated by research analysts at Benchmark in a research note issued on Tuesday,Benzinga reports. They presently have a $16.00 target price on the stock. Benchmark’s target price suggests a potential upside of 35.02% from the stock’s current price.

Several other research analysts have also recently commented on BTDR. Northland Capmk raised Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Alliance Global Partners assumed coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. They issued a “buy” rating and a $14.00 target price for the company. B. Riley dropped their price target on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $13.90.

Bitdeer Technologies Group Price Performance

BTDR stock opened at $11.85 on Tuesday. The stock has a market capitalization of $1.33 billion, a P/E ratio of -62.37 and a beta of 1.92. Bitdeer Technologies Group has a fifty-two week low of $3.91 and a fifty-two week high of $14.27. The business has a 50-day moving average of $8.04 and a 200-day moving average of $8.02.

Institutional Trading of Bitdeer Technologies Group

A number of hedge funds have recently made changes to their positions in BTDR. Public Employees Retirement System of Ohio bought a new stake in shares of Bitdeer Technologies Group in the third quarter worth $66,000. Centiva Capital LP acquired a new position in Bitdeer Technologies Group during the 3rd quarter worth approximately $91,000. Barclays PLC acquired a new position in shares of Bitdeer Technologies Group during the third quarter worth approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Bitdeer Technologies Group in the third quarter valued at $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Bitdeer Technologies Group in the 3rd quarter valued at about $220,000. 22.25% of the stock is 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.