Bitdeer Technologies Group’s (BTDR) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research note issued to investors on Wednesday,Benzinga reports. HC Wainwright currently has a $21.00 price objective on the stock, down from their previous price objective of $22.00.

Other equities research analysts have also recently issued reports about the company. B. Riley lifted their target price on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods initiated coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They set an “outperform” rating and a $26.50 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and set a $30.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday. Benchmark upped their target price on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Northland Securities raised their price target on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bitdeer Technologies Group presently has an average rating of “Buy” and a consensus target price of $21.18.

Bitdeer Technologies Group Stock Performance

Shares of BTDR opened at $10.25 on Wednesday. The firm has a market cap of $1.15 billion, a PE ratio of -19.71 and a beta of 2.04. Bitdeer Technologies Group has a 52-week low of $5.23 and a 52-week high of $26.99. The business’s 50 day moving average price is $18.60 and its two-hundred day moving average price is $12.79.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Yong Rong HK Asset Management Ltd purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter worth $65,010,000. Trivest Advisors Ltd bought a new stake in Bitdeer Technologies Group in the 4th quarter worth $48,481,000. Van ECK Associates Corp purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at about $29,125,000. Renaissance Technologies LLC increased its position in shares of 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 valued at $26,876,000 after acquiring an additional 1,206,361 shares during the period. Finally, Vident Advisory LLC boosted its holdings in shares of Bitdeer Technologies Group by 29.7% during the fourth quarter. Vident Advisory LLC now owns 1,139,619 shares of the company’s stock worth $24,696,000 after purchasing an additional 260,649 shares during the period. Institutional investors own 22.25% of the company’s stock.

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.