Bitdeer Technologies Group (NASDAQ:BTDR) Given “Buy” Rating at Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $23.50 target price on the stock, down from their previous target price of $29.00.

Several other research analysts have also commented on BTDR. Rosenblatt Securities reissued a “buy” rating and set a $30.00 price objective on shares of Bitdeer Technologies Group in a report on Monday. B. Riley boosted their price target on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Needham & Company LLC lowered their price objective on shares of Bitdeer Technologies Group from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday. Finally, Keefe, Bruyette & Woods began coverage on Bitdeer Technologies Group in a research note on Monday, January 27th. They issued an “outperform” rating and a $26.50 target price on the stock. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $21.18.

Bitdeer Technologies Group Stock Performance

NASDAQ:BTDR opened at $10.25 on Wednesday. Bitdeer Technologies Group has a 52-week low of $5.23 and a 52-week high of $26.99. The stock has a fifty day moving average of $18.60 and a 200 day moving average of $12.79. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -19.71 and a beta of 2.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BTDR. Yong Rong HK Asset Management Ltd purchased a new stake in Bitdeer Technologies Group during the 4th quarter valued at about $65,010,000. Trivest Advisors Ltd purchased a new position in Bitdeer Technologies Group in the 4th quarter worth approximately $48,481,000. Van ECK Associates Corp bought a new stake in Bitdeer Technologies Group in the fourth quarter valued at approximately $29,125,000. Renaissance Technologies LLC boosted its stake in shares of Bitdeer Technologies Group by 3,558.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company’s stock valued at $26,876,000 after purchasing an additional 1,206,361 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in shares of Bitdeer Technologies Group in the fourth quarter worth approximately $16,834,000. 22.25% of the stock is 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.