Bitdeer Technologies Group (NASDAQ:BTDR) Earns “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research note released on Wednesday morning, MarketBeat reports. Rosenblatt Securities currently has a $9.00 price objective on the stock.

Several other brokerages have also issued reports on BTDR. Roth Mkm reiterated a buy rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a report on Monday, July 1st. HC Wainwright reduced their price target on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a buy rating for the company in a research report on Tuesday, August 13th. Cantor Fitzgerald upgraded shares of Bitdeer Technologies Group to a strong-buy rating in a research note on Wednesday, June 12th. B. Riley raised their price objective on shares of Bitdeer Technologies Group from $9.00 to $14.00 and gave the company a buy rating in a research note on Friday, July 12th. Finally, Benchmark reissued a buy rating and set a $16.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bitdeer Technologies Group presently has a consensus rating of Buy and a consensus target price of $14.00.

Bitdeer Technologies Group Price Performance

BTDR stock opened at $6.46 on Wednesday. The company’s 50-day moving average is $9.51 and its 200-day moving average is $7.67. The stock has a market capitalization of $723.30 million, a PE ratio of -15.76 and a beta of 1.96. Bitdeer Technologies Group has a 1 year low of $2.77 and a 1 year high of $14.65.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Bitdeer Technologies Group by 196.2% in 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. Nomura Holdings Inc. purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at $15,350,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Bitdeer Technologies Group by 149.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock worth $384,000 after purchasing an additional 23,310 shares during the period. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter worth about $1,199,000. Finally, Vontobel Holding Ltd. bought a new position in Bitdeer Technologies Group during the fourth quarter valued at about $240,000. 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 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.