Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Cut to $18.00 by Analysts at Needham & Company LLC

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price reduced by Needham & Company LLC from $22.00 to $18.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

BTDR has been the subject of a number of other reports. Roth Mkm raised their price target on Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. HC Wainwright reiterated a “buy” rating and set a $21.00 target price (down from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday. Northland Securities boosted 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 reaffirmed a “buy” rating and issued a $30.00 price target on shares of Bitdeer Technologies Group in a research note on Monday. Finally, Keefe, Bruyette & Woods started coverage on shares of Bitdeer Technologies Group in a report on Monday, January 27th. They set an “outperform” rating and a $26.50 price objective for the company. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $21.18.

Bitdeer Technologies Group Price Performance

Bitdeer Technologies Group stock opened at $10.25 on Wednesday. Bitdeer Technologies Group has a 1-year low of $5.23 and a 1-year high of $26.99. The company’s 50-day moving average is $18.60 and its 200 day moving average is $12.79. The firm has a market capitalization of $1.15 billion, a P/E ratio of -19.71 and a beta of 2.04.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at about $42,000. Stonebridge Financial Group LLC purchased a new position in Bitdeer Technologies Group during the fourth quarter valued at approximately $65,000. Public Employees Retirement System of Ohio purchased a new position in Bitdeer Technologies Group during the third quarter valued at approximately $66,000. SBI Securities Co. Ltd. bought a new position in Bitdeer Technologies Group in the fourth quarter worth approximately $79,000. Finally, Centiva Capital LP purchased a new stake in Bitdeer Technologies Group during the third quarter worth $91,000. 22.25% of the stock is currently owned by institutional investors.

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.