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

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective cut by analysts at Rosenblatt Securities from $25.00 to $12.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ target price suggests a potential upside of 52.67% from the stock’s previous close.

A number of other research firms have also recently issued reports on BTDR. Roth Mkm reiterated a “buy” rating and issued a $23.50 target price (down from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. 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 research note on Wednesday, March 19th. Benchmark cut their target price on Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. B. Riley lifted 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. Finally, Keefe, Bruyette & Woods initiated 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 on the stock. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $19.70.

Bitdeer Technologies Group Stock Down 11.0 %

BTDR stock traded down $0.97 during mid-day trading on Thursday, reaching $7.86. The company had a trading volume of 1,827,902 shares, compared to its average volume of 4,292,463. The stock has a market capitalization of $880.05 million, a P/E ratio of -15.12 and a beta of 2.25. Bitdeer Technologies Group has a one year low of $5.23 and a one year high of $26.99. The stock’s 50-day simple moving average is $11.83 and its two-hundred day simple moving average is $13.46.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Bitdeer Technologies Group during the fourth quarter worth about $566,000. Public Employees Retirement System of Ohio grew its stake in Bitdeer Technologies Group by 14.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,600 shares of the company’s stock valued at $208,000 after acquiring an additional 1,200 shares in the last quarter. Two Seas Capital LP purchased a new position in Bitdeer Technologies Group during the 4th quarter valued at about $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% during 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 valued at $1,327,000 after buying an additional 33,182 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired 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 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.