Bitdeer Technologies Group (NASDAQ:BTDR) Given New $24.00 Price Target at Benchmark

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price lowered by stock analysts at Benchmark from $29.00 to $24.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target would suggest a potential upside of 130.39% from the company’s current price.

BTDR has been the topic of a number of other research reports. Roth Mkm upped their target price on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Needham & Company LLC lowered their price objective on Bitdeer Technologies Group from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods started coverage on Bitdeer Technologies Group in a research report on Monday, January 27th. They issued an “outperform” rating and a $26.50 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $21.00 target price (down previously from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday. Finally, Northland Securities upped their price target on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bitdeer Technologies Group currently has a consensus rating of “Buy” and an average target price of $21.68.

Bitdeer Technologies Group Stock Up 12.5 %

BTDR stock traded up $1.16 during midday trading on Wednesday, reaching $10.42. 2,546,075 shares of the company’s stock traded hands, compared to its average volume of 6,993,855. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -20.03 and a beta of 2.04. The firm’s fifty day moving average price is $18.78 and its 200-day moving average price is $12.81.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BTDR. Yong Rong HK Asset Management Ltd bought a new position in shares of Bitdeer Technologies Group in the fourth quarter worth $65,010,000. Trivest Advisors Ltd bought a new position in Bitdeer Technologies Group in the 4th quarter worth about $48,481,000. Van ECK Associates Corp purchased a new stake in shares of Bitdeer Technologies Group in the 4th 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 worth $26,876,000 after purchasing an additional 1,206,361 shares during the last quarter. Finally, Vident Advisory LLC lifted its holdings in shares of Bitdeer Technologies Group by 29.7% during the 4th quarter. Vident Advisory LLC now owns 1,139,619 shares of the company’s stock worth $24,696,000 after acquiring an additional 260,649 shares during the last quarter. 22.25% of the stock is owned by institutional investors.

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.