Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Up 5.7% on Analyst Upgrade

Bitdeer Technologies Group (NASDAQ:BTDR) shot up 5.7% on Wednesday after Roth Mkm raised their price target on the stock from $15.00 to $29.00. Roth Mkm currently has a buy rating on the stock. Bitdeer Technologies Group traded as high as $22.60 and last traded at $22.44. 4,300,233 shares were traded during trading, an increase of 45% from the average session volume of 2,966,461 shares. The stock had previously closed at $21.22.

Other equities analysts have also recently issued reports about the stock. Rosenblatt Securities upped their price objective on shares of Bitdeer Technologies Group from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. HC Wainwright lifted their price objective on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Benchmark raised their target price on Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Alliance Global Partners began coverage on Bitdeer Technologies Group in a research report on Tuesday, October 8th. They set a “buy” rating and a $14.00 price target for the company. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $18.60.

Institutional Trading of Bitdeer Technologies Group

Several institutional investors have recently modified their holdings of BTDR. Public Employees Retirement System of Ohio acquired a new position in Bitdeer Technologies Group during the third quarter worth approximately $66,000. Centiva Capital LP acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at $91,000. Barclays PLC purchased a new stake in Bitdeer Technologies Group in the 3rd quarter valued at $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Bitdeer Technologies Group during the 3rd quarter worth $169,000. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in Bitdeer Technologies Group during the 2nd quarter worth $272,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Performance

The company has a market capitalization of $2.49 billion, a PE ratio of -40.81 and a beta of 2.27. The company’s 50-day simple moving average is $11.79 and its 200-day simple moving average is $9.54.

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.