Bitdeer Technologies Group (NASDAQ:BTDR) Given Buy Rating at Benchmark

Benchmark reissued their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research note released on Monday, Benzinga reports. Benchmark currently has a $13.00 price target on the stock.

A number of other research analysts have also weighed in on the stock. B. Riley initiated coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, March 12th. They set a buy rating and a $9.00 price target on the stock. BTIG Research initiated coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, March 13th. They issued a buy rating and a $15.00 price objective on the stock. Rosenblatt Securities initiated coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, April 9th. They issued a buy rating and a $10.50 price objective on the stock. Needham & Company LLC initiated coverage on shares of Bitdeer Technologies Group in a research report on Monday. They issued a buy rating and a $14.00 price objective on the stock. Finally, Roth Mkm initiated coverage on shares of Bitdeer Technologies Group in a research report on Thursday, February 29th. They issued a buy rating and a $14.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $13.64.

Bitdeer Technologies Group Price Performance

BTDR opened at $5.65 on Monday. The company’s 50-day moving average is $7.12 and its 200 day moving average is $6.57. Bitdeer Technologies Group has a fifty-two week low of $2.77 and a fifty-two week high of $14.65. The firm has a market capitalization of $632.63 million, a P/E ratio of -13.45 and a beta of 1.70.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several large investors have recently modified their holdings of BTDR. Nomura Holdings Inc. purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $15,350,000. Van ECK Associates Corp grew its stake in Bitdeer Technologies Group by 196.2% during the fourth quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock valued at $10,848,000 after acquiring an additional 728,804 shares in the last quarter. EDBI Pte Ltd purchased a new position in Bitdeer Technologies Group during the third quarter valued at approximately $3,444,000. Exchange Traded Concepts LLC purchased a new position in Bitdeer Technologies Group during the third quarter valued at approximately $2,803,000. Finally, Vident Advisory LLC grew its stake in Bitdeer Technologies Group by 422.7% during the fourth quarter. Vident Advisory LLC now owns 303,260 shares of the company’s stock valued at $2,990,000 after acquiring an additional 245,242 shares in the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

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.