Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Cut to $13.00 by Analysts at Needham & Company LLC

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) had its price objective cut by stock analysts at Needham & Company LLC from $15.00 to $13.00 in a research report issued on Monday, MarketBeat Ratings reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's target price suggests a potential upside of 23.46% from the stock's previous close.

Several other analysts have also weighed in on BTDR. HC Wainwright reiterated a "buy" rating and set a $21.00 target price (down previously from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Benchmark dropped their price objective on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Northland Securities lifted their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Roth Mkm reiterated a "buy" rating and set a $23.50 price target (down from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Finally, Rosenblatt Securities cut their price target on Bitdeer Technologies Group from $25.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Bitdeer Technologies Group presently has an average rating of "Buy" and an average target price of $19.50.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ BTDR traded up $0.13 during trading on Monday, reaching $10.53. The stock had a trading volume of 5,226,990 shares, compared to its average volume of 4,529,130. The stock has a market cap of $1.18 billion, a PE ratio of -20.25 and a beta of 2.25. Bitdeer Technologies Group has a one year low of $5.25 and a one year high of $26.99. The firm's 50 day moving average price is $9.89 and its two-hundred day moving average price is $13.50.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Yong Rong HK Asset Management Ltd acquired a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at $65,010,000. Trivest Advisors Ltd acquired a new position in Bitdeer Technologies Group during the 4th quarter valued at about $48,481,000. Van ECK Associates Corp bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth about $29,125,000. Renaissance Technologies LLC lifted its stake in shares of Bitdeer Technologies Group by 3,558.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock worth $26,876,000 after acquiring an additional 1,206,361 shares during the period. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $16,834,000. 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.