Benchmark Has Lowered Expectations for Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) had its price target dropped by equities researchers at Benchmark from $29.00 to $24.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Benchmark's price objective suggests a potential upside of 94.96% from the stock's current price.

Several other brokerages have also recently commented on BTDR. B. Riley boosted their price objective 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. Keefe, Bruyette & Woods assumed coverage on shares of Bitdeer Technologies Group in a research note on Monday, January 27th. They set an "outperform" rating and a $26.50 price objective for the company. 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 note on Tuesday, December 17th. Needham & Company LLC reduced their price objective on shares of Bitdeer Technologies Group from $22.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $30.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, February 24th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $21.18.

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Bitdeer Technologies Group Stock Up 13.0 %

NASDAQ:BTDR traded up $1.42 during mid-day trading on Wednesday, hitting $12.31. 10,678,092 shares of the stock traded hands, compared to its average volume of 7,445,046. The business's 50-day moving average price is $18.29 and its 200 day moving average price is $12.81. The company has a market cap of $1.38 billion, a PE ratio of -23.67 and a beta of 2.04. Bitdeer Technologies Group has a 12-month low of $5.23 and a 12-month high of $26.99.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $566,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Bitdeer Technologies Group by 14.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 9,600 shares of the company's stock worth $208,000 after acquiring an additional 1,200 shares during the last quarter. Two Seas Capital LP bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $9,384,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Bitdeer Technologies Group by 118.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,254 shares of the company's stock worth $1,327,000 after acquiring an additional 33,182 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $16,834,000. 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.