Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Cut to $18.00 by Analysts at Needham & Company LLC

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price cut by research analysts at Needham & Company LLC from $22.00 to $18.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 94.38% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Roth Mkm upped their price objective on Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. B. Riley boosted their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Benchmark boosted their target price on Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods began coverage on Bitdeer Technologies Group in a research note on Monday, January 27th. They set an “outperform” rating and a $26.50 price target for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 target price on shares of Bitdeer Technologies Group in a research note on Monday. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $22.14.

Bitdeer Technologies Group Stock Down 29.3 %

BTDR stock opened at $9.26 on Wednesday. The company’s 50-day moving average price is $18.78 and its two-hundred day moving average price is $12.81. The firm has a market cap of $1.04 billion, a P/E ratio of -17.81 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.

Hedge Funds Weigh In On Bitdeer Technologies Group

Hedge funds have recently made changes to their positions in the business. Yong Rong HK Asset Management Ltd bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at about $65,010,000. Trivest Advisors Ltd bought a new position in Bitdeer Technologies Group during the 4th quarter valued at approximately $48,481,000. Van ECK Associates Corp purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter worth about $29,125,000. Renaissance Technologies LLC lifted its holdings in shares of Bitdeer Technologies Group by 3,558.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company’s stock valued at $26,876,000 after purchasing an additional 1,206,361 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at about $16,834,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.