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

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price dropped by research analysts at Needham & Company LLC from $18.00 to $15.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 58.23% from the stock’s previous close.

BTDR has been the topic of a number of other reports. Roth Mkm reaffirmed a “buy” rating and issued a $23.50 price objective (down from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. HC Wainwright restated a “buy” rating and set a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. 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 on the stock. B. Riley lifted their price target on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Rosenblatt Securities lowered their price target on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $21.00.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock opened at $9.48 on Wednesday. The firm has a market cap of $1.06 billion, a P/E ratio of -18.23 and a beta of 2.12. The firm has a 50 day simple moving average of $15.38 and a 200 day simple moving average of $13.21. Bitdeer Technologies Group has a fifty-two week low of $5.23 and a fifty-two week high of $26.99.

Institutional Trading of Bitdeer Technologies Group

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $42,000. Stonebridge Financial Group LLC bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $65,000. Public Employees Retirement System of Ohio bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $66,000. SBI Securities Co. Ltd. bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $79,000. Finally, Centiva Capital LP purchased a new position in shares of Bitdeer Technologies Group in the third quarter worth $91,000. Hedge funds and other 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.