Needham & Company LLC Issues Positive Forecast for Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target raised by Needham & Company LLC from $17.00 to $30.00 in a research note published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

BTDR has been the topic of several other research reports. B. Riley reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. BTIG Research raised their price objective on Bitdeer Technologies Group from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday. Wall Street Zen downgraded shares of Bitdeer Technologies Group from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Cantor Fitzgerald increased their target price on shares of Bitdeer Technologies Group from $30.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Roth Capital reiterated a “buy” rating and set a $40.00 target price on shares of Bitdeer Technologies Group in a research note on Wednesday. Twelve investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $27.58.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $25.88 on Thursday. The stock’s 50-day moving average is $15.98 and its two-hundred day moving average is $13.38. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of -5.51 and a beta of 2.25. Bitdeer Technologies Group has a 1 year low of $6.84 and a 1 year high of $27.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 1.03.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its position in Bitdeer Technologies Group by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock valued at $30,000 after purchasing an additional 1,044 shares during the period. Stonebridge Financial Group LLC lifted its position in Bitdeer Technologies Group by 33.3% in the first quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares during the period. Amalgamated Bank acquired a new stake in Bitdeer Technologies Group in the second quarter valued at about $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in Bitdeer Technologies Group in the first quarter valued at about $55,000. Finally, Tower Research Capital LLC TRC lifted its position in Bitdeer Technologies Group by 7,157.0% in the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after purchasing an additional 7,157 shares during the period. Institutional investors and hedge funds 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.