Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Lowered to $12.00 at Rosenblatt Securities

Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) had its price objective decreased by Rosenblatt Securities from $25.00 to $12.00 in a report published on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

Several other brokerages also recently commented on BTDR. Northland Securities boosted their price objective on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an "outperform" rating in a research report on Friday, January 10th. Roth Mkm reiterated a "buy" rating and issued a $23.50 price target (down from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods assumed coverage on shares of Bitdeer Technologies Group in a report on Monday, January 27th. They set an "outperform" rating and a $26.50 target price on the stock. B. Riley boosted their price objective on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Finally, Needham & Company LLC cut their target price on Bitdeer Technologies Group from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. 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 data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $19.70.

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Bitdeer Technologies Group Stock Performance

Shares of BTDR stock traded down $0.63 during midday trading on Thursday, hitting $7.24. 2,556,139 shares of the company were exchanged, compared to its average volume of 4,346,022. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99. The firm has a market capitalization of $810.63 million, a P/E ratio of -13.92 and a beta of 2.25. The firm's 50 day moving average price is $11.28 and its two-hundred day moving average price is $13.50.

Institutional Trading of Bitdeer Technologies Group

Several hedge funds have recently bought and sold shares of BTDR. Charles Schwab Investment Management Inc. boosted its stake in Bitdeer Technologies Group by 281.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company's stock valued at $1,933,000 after purchasing an additional 182,110 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Bitdeer Technologies Group in the third quarter valued at approximately $220,000. Centiva Capital LP bought a new stake in Bitdeer Technologies Group during the 3rd quarter worth approximately $91,000. State Street Corp purchased a new stake in Bitdeer Technologies Group in the 3rd quarter worth approximately $1,510,000. Finally, Y Intercept Hong Kong Ltd boosted its holdings in Bitdeer Technologies Group by 96.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company's stock valued at $347,000 after purchasing an additional 21,798 shares during the period. Institutional investors and hedge funds 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.