Rosenblatt Securities Lowers Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $12.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target cut by equities researchers at Rosenblatt Securities from $25.00 to $12.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 52.67% from the company’s previous close.

BTDR has been the topic of several other reports. Needham & Company LLC decreased their target price on shares of Bitdeer Technologies Group from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Benchmark decreased their target price on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Northland Securities boosted their target price on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. B. Riley boosted their target price on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bitdeer Technologies Group has an average rating of “Buy” and a consensus target price of $19.70.

Bitdeer Technologies Group Stock Down 11.0 %

NASDAQ:BTDR traded down $0.97 during midday trading on Thursday, reaching $7.86. The stock had a trading volume of 1,827,902 shares, compared to its average volume of 4,292,463. The firm has a fifty day simple moving average of $11.83 and a two-hundred day simple moving average of $13.46. Bitdeer Technologies Group has a 12-month low of $5.23 and a 12-month high of $26.99. The stock has a market cap of $880.05 million, a P/E ratio of -15.12 and a beta of 2.25.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Bitdeer Technologies Group in the 4th quarter worth approximately $566,000. Public Employees Retirement System of Ohio boosted its stake in shares of Bitdeer Technologies Group by 14.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,600 shares of the company’s stock valued at $208,000 after buying an additional 1,200 shares during the last quarter. Two Seas Capital LP purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at approximately $9,384,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Bitdeer Technologies Group by 118.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,254 shares of the company’s stock valued at $1,327,000 after buying an additional 33,182 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at approximately $16,834,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.