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

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating reissued by Benchmark in a note issued to investors on Tuesday,Benzinga reports. They currently have a $16.00 price target on the stock. Benchmark’s price objective would indicate a potential upside of 35.02% from the stock’s current price.

Several other research firms have also recently weighed in on BTDR. B. Riley cut their price objective on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Rosenblatt Securities restated a “buy” rating and set a $9.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. Northland Securities boosted their price target on Bitdeer Technologies Group from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Finally, Northland Capmk raised Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Ten 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, the stock presently has a consensus rating of “Buy” and a consensus target price of $13.90.

Bitdeer Technologies Group Trading Up 6.9 %

BTDR opened at $11.85 on Tuesday. The stock has a market cap 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 stock has a fifty day moving average price of $8.04 and a 200 day moving average price of $8.02.

Hedge Funds Weigh In On Bitdeer Technologies Group

Large investors have recently bought and sold shares of the business. Vident Advisory LLC grew its holdings in Bitdeer Technologies Group by 186.4% during the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock worth $6,098,000 after acquiring an additional 565,362 shares during the period. Virtu Financial LLC acquired a new stake in shares of Bitdeer Technologies Group during the first quarter worth $431,000. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth about $272,000. Thomist Capital Management LP acquired a new stake in Bitdeer Technologies Group in the second quarter worth $1,156,000. Finally, XTX Topco Ltd acquired a new position in Bitdeer Technologies Group in the second quarter valued at about $276,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.