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

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target reduced by Needham & Company LLC from $22.00 to $18.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

BTDR has been the topic of several other research reports. Rosenblatt Securities reissued a “buy” rating and set a $30.00 target price on shares of Bitdeer Technologies Group in a research note on Monday. Roth Mkm lifted their price objective on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods began coverage on shares of Bitdeer Technologies Group in a report on Monday, January 27th. They issued an “outperform” rating and a $26.50 target price on the stock. Northland Securities raised their target price on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, Benchmark lifted their price target on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a report on Monday, December 9th. Eleven investment 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 stock currently has an average rating of “Buy” and an average price target of $21.18.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $10.25 on Wednesday. The stock has a fifty day simple moving average of $18.60 and a two-hundred day simple moving average of $12.79. Bitdeer Technologies Group has a 52-week low of $5.23 and a 52-week high of $26.99. The firm has a market capitalization of $1.15 billion, a PE ratio of -19.71 and a beta of 2.04.

Institutional Trading of Bitdeer Technologies Group

A number of large investors have recently made changes to their positions in BTDR. Quarry LP bought a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $42,000. Stonebridge Financial Group LLC purchased a new stake in Bitdeer Technologies Group during the fourth quarter valued at approximately $65,000. Public Employees Retirement System of Ohio purchased a new stake in Bitdeer Technologies Group during the third quarter valued at approximately $66,000. SBI Securities Co. Ltd. bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $79,000. Finally, Centiva Capital LP purchased a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $91,000. 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.