Bitdeer Technologies Group (NASDAQ:BTDR) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research report report published on Tuesday,Benzinga reports. Needham & Company LLC currently has a $14.00 price objective on the stock.

Several other research firms have also recently issued reports on BTDR. Alliance Global Partners started coverage on Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price target on the stock. Northland Capmk raised Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $9.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. B. Riley dropped their target price on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $14.80.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ:BTDR opened at $11.19 on Tuesday. The business has a fifty day moving average of $8.35 and a 200-day moving average of $8.11. The firm has a market cap of $1.25 billion, a PE ratio of -21.52 and a beta of 1.92. Bitdeer Technologies Group has a twelve month low of $3.97 and a twelve month high of $14.27.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTDR. Public Employees Retirement System of Ohio bought a new position in shares of Bitdeer Technologies Group during the third quarter worth approximately $66,000. Centiva Capital LP bought a new stake in Bitdeer Technologies Group during the third quarter worth about $91,000. Barclays PLC acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at approximately $220,000. 22.25% of the stock is 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.