Bitdeer Technologies Group (NASDAQ:BTDR) Given New $18.00 Price Target at Needham & Company LLC

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) had its price target cut by Needham & Company LLC from $22.00 to $18.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's target price would suggest a potential upside of 46.22% from the stock's current price.

A number of other brokerages have also recently issued reports on BTDR. Northland Securities lifted their target price on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Benchmark boosted their price objective on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Roth Mkm boosted their price objective on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a "buy" rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods assumed coverage on shares of Bitdeer Technologies Group in a research report on Monday, January 27th. They issued an "outperform" rating and a $26.50 price objective for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $21.00 price objective (down previously from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $21.18.

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Bitdeer Technologies Group Stock Performance

NASDAQ BTDR traded up $1.42 during trading on Wednesday, reaching $12.31. The company's stock had a trading volume of 10,678,092 shares, compared to its average volume of 7,445,046. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -23.67 and a beta of 2.04. Bitdeer Technologies Group has a twelve month low of $5.23 and a twelve month high of $26.99. The business's fifty day moving average price is $18.29 and its 200-day moving average price is $12.81.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several large investors have recently made changes to their positions in BTDR. Yong Rong HK Asset Management Ltd acquired a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $65,010,000. Trivest Advisors Ltd acquired a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $48,481,000. Van ECK Associates Corp acquired a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $29,125,000. Renaissance Technologies LLC boosted its holdings in shares of Bitdeer Technologies Group by 3,558.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock worth $26,876,000 after buying an additional 1,206,361 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $16,834,000. Institutional investors 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.