Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target lifted by analysts at Rosenblatt Securities from $12.00 to $15.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 3.95% from the company’s previous close.

Several other research firms also recently commented on BTDR. Needham & Company LLC lowered their target price on shares of Bitdeer Technologies Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, April 21st. HC Wainwright reissued a “buy” rating and issued a $21.00 target price (down previously from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Roth Mkm reissued a “buy” rating and issued a $23.50 target price (down previously from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Keefe, Bruyette & Woods began coverage on shares of Bitdeer Technologies Group in a report on Monday, January 27th. They issued an “outperform” rating and a $26.50 target price on the stock. Finally, Benchmark reduced their price target on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $19.80.

Bitdeer Technologies Group Stock Performance

BTDR stock opened at $14.43 on Monday. Bitdeer Technologies Group has a one year low of $5.25 and a one year high of $26.99. The company’s fifty day moving average price is $9.80 and its 200-day moving average price is $13.86. The company has a market capitalization of $1.62 billion, a PE ratio of -27.75 and a beta of 2.24.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BTDR. Yong Rong HK Asset Management Ltd purchased a new stake in Bitdeer Technologies Group in the fourth quarter worth about $65,010,000. Trivest Advisors Ltd purchased a new stake in Bitdeer Technologies Group in the fourth quarter worth about $48,481,000. Van ECK Associates Corp purchased a new stake in Bitdeer Technologies Group in the fourth quarter worth about $29,125,000. Renaissance Technologies LLC lifted its stake in Bitdeer Technologies Group by 3,558.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company’s stock worth $26,876,000 after acquiring an additional 1,206,361 shares during the period. Finally, FengHe Fund Management Pte. Ltd. lifted its stake in Bitdeer Technologies Group by 178.2% in the first quarter. FengHe Fund Management Pte. Ltd. now owns 1,332,200 shares of the company’s stock worth $11,763,000 after acquiring an additional 853,300 shares during the period. 22.25% of the stock is currently owned by institutional investors.

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.