Bitdeer Technologies Group (NASDAQ:BTDR) Hits New 12-Month High – Still a Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) reached a new 52-week high on Friday . The stock traded as high as $14.52 and last traded at $14.25, with a volume of 4127830 shares changing hands. The stock had previously closed at $12.23.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BTDR. Northland Securities boosted their price target on Bitdeer Technologies Group from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. HC Wainwright upped their target price on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, November 19th. Rosenblatt Securities upped their price objective on shares of Bitdeer Technologies Group from $9.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Bitdeer Technologies Group currently has an average rating of “Buy” and a consensus price target of $14.80.

Bitdeer Technologies Group Stock Performance

The stock has a market cap of $1.65 billion, a PE ratio of -27.40 and a beta of 1.92. The company’s 50-day moving average price is $8.84 and its 200 day moving average price is $8.33.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several large investors have recently modified their holdings of BTDR. Public Employees Retirement System of Ohio purchased a new stake in Bitdeer Technologies Group in the 3rd quarter valued at about $66,000. Centiva Capital LP acquired a new stake in shares of Bitdeer Technologies Group during the third quarter valued at about $91,000. Barclays PLC purchased a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $220,000. Institutional investors and hedge funds 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.