Analysts Set Bitdeer Technologies Group (NASDAQ:BTDR) Target Price at $14.20

Bitdeer Technologies Group (NASDAQ:BTDR) has been given an average recommendation of “Buy” by the six analysts that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $13.58.

A number of equities analysts have recently weighed in on the stock. BTIG Research assumed coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, March 13th. They set a “buy” rating and a $15.00 price target on the stock. Rosenblatt Securities assumed coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, April 9th. They set a “buy” rating and a $10.50 price target on the stock. Roth Mkm assumed coverage on shares of Bitdeer Technologies Group in a research report on Thursday, February 29th. They set a “buy” rating and a $14.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday, March 26th. Finally, B. Riley started coverage on shares of Bitdeer Technologies Group in a report on Tuesday, March 12th. They set a “buy” rating and a $9.00 price objective on the stock.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EDBI Pte Ltd acquired a new stake in Bitdeer Technologies Group in the 3rd quarter valued at $3,444,000. Exchange Traded Concepts LLC grew its position in shares of Bitdeer Technologies Group by 83.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock valued at $5,265,000 after acquiring an additional 243,245 shares during the period. Swiss National Bank bought a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $604,000. SC US Ttgp LTD. bought a new position in shares of Bitdeer Technologies Group in the 2nd quarter valued at about $14,291,000. Finally, Barclays PLC bought a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $49,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $6.04 on Tuesday. The firm’s 50 day moving average price is $7.14 and its two-hundred day moving average price is $6.63. The stock has a market cap of $676.30 million, a PE ratio of -14.38 and a beta of 1.70. Bitdeer Technologies Group has a 52-week low of $2.77 and a 52-week high of $14.65.

About Bitdeer Technologies Group

Bitdeer Technologies Group operates as a technology company for the cryptocurrency mining community. It mines cryptocurrencies for its own account and serve the cryptocurrency mining community by providing cryptocurrency mining solution. The company handles various processes involved in mining, such as miner procurement, transport logistics, mining datacenter design and construction, mining machine management, and daily operations.