Bitdeer Technologies Group (NASDAQ:BTDR) Given New $13.00 Price Target at Needham & Company LLC

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) had its price target cut by equities researchers at Needham & Company LLC from $15.00 to $13.00 in a report issued on Monday, MarketBeat reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price target points to a potential upside of 23.46% from the company's previous close.

BTDR has been the subject of a number of other reports. Roth Mkm restated a "buy" rating and set a $23.50 price objective (down from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Rosenblatt Securities cut their price objective on shares of Bitdeer Technologies Group from $25.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Northland Securities upped 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 cut their price target on Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods began coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They issued an "outperform" rating and a $26.50 price objective for the company. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $19.50.

Bitdeer Technologies Group Trading Up 1.2 %

NASDAQ BTDR traded up $0.13 during trading hours on Monday, reaching $10.53. The company's stock had a trading volume of 5,226,990 shares, compared to its average volume of 4,513,223. The business has a 50-day simple moving average of $9.98 and a 200 day simple moving average of $13.48. Bitdeer Technologies Group has a 52 week low of $5.25 and a 52 week high of $26.99. The stock has a market cap of $1.18 billion, a PE ratio of -20.25 and a beta of 2.25.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new stake in Bitdeer Technologies Group in the 4th quarter valued at 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. SBI Securities Co. Ltd. acquired a new stake in Bitdeer Technologies Group during the fourth quarter valued at approximately $79,000. Wells Fargo & Company MN boosted its holdings in Bitdeer Technologies Group by 56.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock worth $93,000 after buying an additional 1,540 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Bitdeer Technologies Group in the fourth quarter worth approximately $116,000. 22.25% of the stock is owned by institutional investors and hedge funds.

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.