Needham & Company LLC Has Lowered Expectations for Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective dropped by stock analysts at Needham & Company LLC from $18.00 to $15.00 in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 50.00% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Northland Securities lifted their price target on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Rosenblatt Securities reduced their price target on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Monday. B. Riley lifted their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. 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 report on Wednesday, February 26th. Finally, Roth Mkm reiterated a “buy” rating and set a $23.50 price target (down previously from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Ten 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, Bitdeer Technologies Group has a consensus rating of “Buy” and a consensus target price of $21.00.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $10.00 on Wednesday. The stock’s fifty day moving average is $15.05 and its two-hundred day moving average is $13.16. The firm has a market capitalization of $1.12 billion, a P/E ratio of -19.23 and a beta of 2.12. Bitdeer Technologies Group has a fifty-two week low of $5.23 and a fifty-two week high of $26.99.

Institutional Trading of Bitdeer Technologies Group

Several institutional investors and hedge funds have recently bought and sold shares of BTDR. Yong Rong HK Asset Management Ltd purchased a new stake in Bitdeer Technologies Group during the fourth quarter worth about $65,010,000. Trivest Advisors Ltd purchased a new stake in Bitdeer Technologies Group during the fourth quarter worth about $48,481,000. Van ECK Associates Corp purchased a new stake in Bitdeer Technologies Group during the fourth quarter worth about $29,125,000. Renaissance Technologies LLC increased its stake in Bitdeer Technologies Group by 3,558.6% during 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 period. Finally, Vident Advisory LLC increased its stake in Bitdeer Technologies Group by 29.7% during the fourth quarter. Vident Advisory LLC now owns 1,139,619 shares of the company’s stock worth $24,696,000 after purchasing an additional 260,649 shares during the period. 22.25% of the stock is currently owned by hedge funds and other 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.