Rosenblatt Securities Reaffirms “Buy” Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating reissued by equities research analysts at Rosenblatt Securities in a note issued to investors on Monday,Benzinga reports. They currently have a $30.00 price target on the stock. Rosenblatt Securities’ target price suggests a potential upside of 129.27% from the company’s current price.

A number of other research analysts have also weighed in on BTDR. Needham & Company LLC raised their target price on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the company a “buy” rating in a report on Monday, January 13th. Benchmark increased their price objective on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, December 9th. HC Wainwright boosted 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. Northland Securities increased their price target on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, Roth Mkm lifted their price target on Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Bitdeer Technologies Group currently has a consensus rating of “Buy” and a consensus target price of $22.23.

Bitdeer Technologies Group Trading Down 12.4 %

Shares of Bitdeer Technologies Group stock opened at $13.09 on Monday. The firm has a market cap of $1.47 billion, a PE ratio of -25.16 and a beta of 2.04. The stock has a 50 day moving average of $19.22 and a 200 day moving average of $12.77. Bitdeer Technologies Group has a 12 month low of $5.23 and a 12 month high of $26.99.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently modified their holdings of BTDR. Public Employees Retirement System of Ohio grew its position in Bitdeer Technologies Group by 14.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 9,600 shares of the company’s stock valued at $208,000 after acquiring an additional 1,200 shares during the last quarter. Two Seas Capital LP bought a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $9,384,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Bitdeer Technologies Group by 118.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,254 shares of the company’s stock worth $1,327,000 after buying an additional 33,182 shares during the period. Voloridge Investment Management LLC bought a new stake in Bitdeer Technologies Group during the 4th quarter valued at about $16,834,000. Finally, Vident Advisory LLC boosted its position in Bitdeer Technologies Group by 29.7% in the 4th quarter. Vident Advisory LLC now owns 1,139,619 shares of the company’s stock valued at $24,696,000 after buying an additional 260,649 shares during the period. 22.25% of the stock is currently owned by hedge funds and other 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.