Bitdeer Technologies Group (NASDAQ:BTDR) Given New $18.00 Price Target at Needham & Company LLC

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target dropped by stock analysts at Needham & Company LLC from $22.00 to $18.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 94.38% from the company’s previous close.

Several other analysts have also recently commented on BTDR. Northland Securities increased their price target 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. Benchmark boosted their price objective 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. B. Riley boosted their price target on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday. Finally, HC Wainwright reissued a “buy” rating and issued a $21.00 target price (down from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday. Eleven 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.com, Bitdeer Technologies Group has an average rating of “Buy” and a consensus target price of $22.14.

Bitdeer Technologies Group Stock Down 29.3 %

NASDAQ:BTDR opened at $9.26 on Wednesday. Bitdeer Technologies Group has a 12-month low of $5.23 and a 12-month high of $26.99. The firm has a market capitalization of $1.04 billion, a PE ratio of -17.81 and a beta of 2.04. The firm has a 50-day moving average price of $18.78 and a 200 day moving average price of $12.81.

Institutional Trading of Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently made changes to their positions in BTDR. Yong Rong HK Asset Management Ltd acquired a new position in Bitdeer Technologies Group during the fourth quarter worth $65,010,000. Trivest Advisors Ltd bought a new position in Bitdeer Technologies Group in the fourth quarter valued at approximately $48,481,000. Van ECK Associates Corp acquired a new position in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $29,125,000. Renaissance Technologies LLC raised its stake in shares of Bitdeer Technologies Group by 3,558.6% during the 4th 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 in the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $16,834,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.