Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Raised to $18.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective raised by equities researchers at HC Wainwright from $17.00 to $18.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 51.90% from the company’s current price.

A number of other equities analysts have also commented on BTDR. B. Riley decreased their price objective on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. Benchmark reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. 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 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Thursday, September 26th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Bitdeer Technologies Group currently has a consensus rating of “Buy” and an average target price of $13.90.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ:BTDR opened at $11.85 on Tuesday. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -62.37 and a beta of 1.92. Bitdeer Technologies Group has a 1-year low of $3.91 and a 1-year high of $14.27. The company has a 50 day moving average price of $8.04 and a 200 day moving average price of $8.02.

Institutional Trading of Bitdeer Technologies Group

Institutional investors have recently made changes to their positions in the business. Millennium Management LLC lifted its holdings in Bitdeer Technologies Group by 901.0% during the 2nd quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock valued at $4,210,000 after purchasing an additional 369,363 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Bitdeer Technologies Group in the second quarter worth about $4,510,000. Shariaportfolio Inc. bought a new position in shares of Bitdeer Technologies Group in the third quarter worth about $1,039,000. Thomist Capital Management LP bought a new position in shares of Bitdeer Technologies Group in the second quarter worth about $1,156,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Bitdeer Technologies Group in the second quarter worth about $4,617,000. 22.25% of the stock is currently 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.