Needham & Company LLC Cuts Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $13.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price trimmed by Needham & Company LLC from $15.00 to $13.00 in a research note issued to investors on Monday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. 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, February 26th. 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. Rosenblatt Securities decreased their price target on shares of Bitdeer Technologies Group from $25.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Benchmark reduced their price objective on Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods assumed coverage on Bitdeer Technologies Group in a research note on Monday, January 27th. They set an “outperform” rating and a $26.50 target price on the stock. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $19.50.

Bitdeer Technologies Group Trading Up 5.0 %

Bitdeer Technologies Group stock opened at $9.85 on Monday. The company has a fifty day simple moving average of $10.10 and a 200 day simple moving average of $13.46. Bitdeer Technologies Group has a 1-year low of $5.25 and a 1-year high of $26.99. The company has a market cap of $1.10 billion, a P/E ratio of -18.93 and a beta of 2.25.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. State Street Corp bought a new stake in shares of Bitdeer Technologies Group in the third quarter worth $1,510,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Bitdeer Technologies Group in the third quarter valued at about $66,000. Barclays PLC acquired a new position in shares of Bitdeer Technologies Group in the third quarter worth approximately $161,000. Geode Capital Management LLC increased its position in Bitdeer Technologies Group by 14.6% during 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 period. Finally, Sanctuary Advisors LLC bought a new position in Bitdeer Technologies Group during the 3rd quarter worth approximately $275,000. Institutional investors own 22.25% of the company’s stock.

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.