Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Raised to $22.00 at Needham & Company LLC

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target increased by Needham & Company LLC from $14.00 to $22.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on BTDR. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Roth Mkm upped their target price on Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. HC Wainwright increased their price target on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Northland Capmk raised Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 target price on shares of Bitdeer Technologies Group in a research report on Monday. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Bitdeer Technologies Group has an average rating of “Buy” and an average price target of $21.00.

Bitdeer Technologies Group Stock Performance

BTDR opened at $17.11 on Monday. Bitdeer Technologies Group has a twelve month low of $5.23 and a twelve month high of $26.99. The firm’s 50-day simple moving average is $16.84 and its 200-day simple moving average is $11.24. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -32.90 and a beta of 2.09.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BTDR. Public Employees Retirement System of Ohio purchased a new stake in Bitdeer Technologies Group during the 3rd quarter valued at about $66,000. Centiva Capital LP acquired a new position in Bitdeer Technologies Group in the 3rd quarter worth about $91,000. Barclays PLC acquired a new position in shares of Bitdeer Technologies Group during the third quarter valued at approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Bitdeer Technologies Group during the third quarter valued at approximately $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Bitdeer Technologies Group in the third quarter valued at approximately $220,000. 22.25% of the stock is currently owned by hedge funds and other 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.