Needham & Company LLC Cuts Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $15.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price reduced by Needham & Company LLC from $18.00 to $15.00 in a research report sent to investors on Wednesday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

Several other research firms have also issued reports on BTDR. Benchmark lowered their target price on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Rosenblatt Securities decreased their price objective on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Roth Mkm reaffirmed a “buy” rating and set a $23.50 target price (down previously from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Northland Securities increased their price target on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, HC Wainwright restated a “buy” rating and set a $21.00 price objective (down previously from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $21.00.

Bitdeer Technologies Group Stock Up 0.1 %

Shares of BTDR opened at $10.01 on Wednesday. The business has a fifty day moving average of $14.88 and a 200 day moving average of $13.19. The company has a market cap of $1.12 billion, a PE ratio of -19.25 and a beta of 2.12. Bitdeer Technologies Group has a 52-week low of $5.23 and a 52-week high of $26.99.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently made changes to their positions in BTDR. Quarry LP purchased a new stake in Bitdeer Technologies Group in the fourth quarter worth about $42,000. Stonebridge Financial Group LLC purchased a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $65,000. SBI Securities Co. Ltd. purchased a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $79,000. Wells Fargo & Company MN boosted its stake in shares of Bitdeer Technologies Group by 56.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock valued at $93,000 after purchasing an additional 1,540 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Bitdeer Technologies Group during the fourth quarter valued at approximately $116,000. 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.