Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Lowered to $24.00 at Benchmark

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective trimmed by Benchmark from $29.00 to $24.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on BTDR. Rosenblatt Securities restated a “buy” rating and set a $30.00 target price on shares of Bitdeer Technologies Group in a report on Monday, February 24th. B. Riley boosted their price objective on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Northland Securities upped their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Roth Mkm lifted their price target on Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Finally, Needham & Company LLC dropped 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 report on Wednesday. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Bitdeer Technologies Group has an average rating of “Buy” and an average price target of $21.18.

Bitdeer Technologies Group Trading Up 13.0 %

NASDAQ:BTDR opened at $12.31 on Wednesday. The company has a market cap of $1.38 billion, a P/E ratio of -23.67 and a beta of 2.04. Bitdeer Technologies Group has a twelve month low of $5.23 and a twelve month high of $26.99. The company’s 50-day moving average price is $18.29 and its 200-day moving average price is $12.81.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Bitdeer Technologies Group by 3.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,358 shares of the company’s stock worth $636,000 after acquiring an additional 916 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in 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 valued at $208,000 after acquiring an additional 1,200 shares in the last quarter. Wells Fargo & Company MN increased its stake 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 purchasing an additional 1,540 shares during the period. Quarry LP acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth about $42,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at approximately $65,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.