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

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target hoisted by analysts at Needham & Company LLC from $14.00 to $22.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 15.55% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. HC Wainwright boosted their price target on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Alliance Global Partners started coverage on Bitdeer Technologies Group in a research note on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price objective on the stock. B. Riley upped 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. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $21.00.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock opened at $19.04 on Monday. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of -36.61 and a beta of 2.09. The business has a 50-day moving average of $17.07 and a 200 day moving average of $11.30. Bitdeer Technologies Group has a 12 month low of $5.23 and a 12 month high of $26.99.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 buying an additional 182,110 shares in the last quarter. Millennium Management LLC boosted its stake in Bitdeer Technologies Group by 901.0% in the second quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock valued at $4,210,000 after acquiring an additional 369,363 shares in the last quarter. Mirabella Financial Services LLP purchased a new position in shares of Bitdeer Technologies Group during the third quarter worth about $5,872,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Bitdeer Technologies Group during the third quarter worth about $220,000. Finally, Geode Capital Management LLC lifted its holdings in shares of 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. 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.