Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Cut to $18.00 by Analysts at Needham & Company LLC

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price lowered by Needham & Company LLC from $22.00 to $18.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also issued reports on BTDR. Benchmark increased their target price on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods began coverage on shares of Bitdeer Technologies Group in a research report on Monday, January 27th. They set an “outperform” rating and a $26.50 target price on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price target on shares of Bitdeer Technologies Group in a research report on Monday, February 24th. HC Wainwright reiterated a “buy” rating and set a $21.00 price target (down previously from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday. Finally, B. Riley increased 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 report on Thursday, December 19th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $21.18.

Bitdeer Technologies Group Stock Up 13.0 %

Shares of NASDAQ:BTDR opened at $12.31 on Wednesday. The company’s 50 day moving average price is $18.29 and its two-hundred day moving average price is $12.81. Bitdeer Technologies Group has a 12-month low of $5.23 and a 12-month high of $26.99. The firm has a market cap of $1.38 billion, a PE ratio of -23.67 and a beta of 2.04.

Hedge Funds Weigh In On Bitdeer Technologies Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its stake in Bitdeer Technologies Group by 281.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock valued at $1,933,000 after purchasing an additional 182,110 shares during the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in Bitdeer Technologies Group in the 4th quarter valued at approximately $10,378,000. Mirabella Financial Services LLP bought a new position in Bitdeer Technologies Group in the 3rd quarter valued at approximately $5,872,000. Barclays PLC bought a new position in Bitdeer Technologies Group in the 3rd quarter valued at approximately $161,000. Finally, Geode Capital Management LLC lifted its stake in Bitdeer Technologies Group by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock valued at $2,886,000 after purchasing an additional 46,968 shares during the last quarter. Institutional investors own 22.25% of the company’s stock.

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.