On August 21, Bitdeer Technologies Group rose 9.59% in regular trading, trading at $11.26/share, with turnover of $18.59 million. The rally was driven by Barclays initiating coverage on the stock with an Overweight rating.
According to FactSet data, the stock carries an average analyst rating of Buy with a consensus price target of $20.90, implying significant upside from current levels. Earlier this month, Cantor Fitzgerald also upgraded the stock to Overweight with a $15 target, while B. Riley maintained a Buy rating with a $21 target.
Additionally, Bitdeer AI recently disclosed that approximately 50% of its Malaysian A102 data center capacity has been contracted ahead of energization, with active negotiations underway for the remaining capacity and other site locations. The company also secured a $4.7 billion 16-year colocation lease for its Norway Tydal Data Center earlier in August, supported by a $1.3 billion credit backstop arranged by JP Morgan affiliates.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)