Keefe, Bruyette & Woods Begins Coverage on Bitdeer Technologies Group (NASDAQ:BTDR)

Keefe, Bruyette & Woods assumed coverage on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a report released on Monday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $26.50 target price on the stock.

Several other analysts have also issued reports on the stock. Alliance Global Partners assumed coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. They issued a “buy” rating and a $14.00 target price for the company. Northland Securities upped their price objective on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Roth Mkm upped their target price on Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Finally, Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Bitdeer Technologies Group has an average rating of “Buy” and a consensus target price of $21.50.

Bitdeer Technologies Group Stock Up 2.7 %

Shares of NASDAQ:BTDR opened at $17.12 on Monday. The business’s 50 day moving average is $18.96 and its 200 day moving average is $11.91. Bitdeer Technologies Group has a 12-month low of $5.23 and a 12-month high of $26.99. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -32.92 and a beta of 2.09.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp purchased a new position in Bitdeer Technologies Group in the fourth quarter worth $29,125,000. Stonebridge Financial Group LLC bought a new stake in Bitdeer Technologies Group during the fourth quarter worth about $65,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter worth about $566,000. International Assets Investment Management LLC bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at about $308,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Bitdeer Technologies Group in the third quarter worth approximately $275,000. 22.25% of the stock is currently owned by institutional investors.

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.