Bitdeer Technologies Group (NASDAQ:BTDR) Earns “Buy” Rating from Needham & Company LLC

Bitdeer Technologies Group (NASDAQ:BTDR)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $14.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 17.75% from the company’s previous close.

Several other analysts have also weighed in on the stock. B. Riley lowered their price objective on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Northland Securities boosted their price target on shares of Bitdeer Technologies Group from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday. Benchmark reissued a “buy” rating and issued a $16.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Finally, Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $14.80.

Bitdeer Technologies Group Trading Up 3.0 %

BTDR opened at $11.89 on Tuesday. The company’s 50 day moving average is $8.26 and its 200-day moving average is $8.09. Bitdeer Technologies Group has a 1-year low of $3.91 and a 1-year high of $14.27. The company has a market cap of $1.33 billion, a P/E ratio of -22.87 and a beta of 1.92.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently added to or reduced their stakes in BTDR. Public Employees Retirement System of Ohio bought a new position in shares of Bitdeer Technologies Group during the third quarter valued at approximately $66,000. Centiva Capital LP bought a new position in shares of Bitdeer Technologies Group during the third quarter valued at approximately $91,000. Barclays PLC bought a new position in shares of Bitdeer Technologies Group during the third quarter valued at approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Bitdeer Technologies Group during the third quarter valued at approximately $169,000. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of Bitdeer Technologies Group during the second quarter valued at approximately $272,000. 22.25% of the stock is currently owned by 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.