Needham & Company LLC Lowers Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $15.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its price objective dropped by Needham & Company LLC from $18.00 to $15.00 in a report released on Wednesday, Marketbeat reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 50.00% from the stock’s current price.

A number of other analysts have also weighed in on BTDR. B. Riley upped their target price 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. 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 note on Friday, January 10th. HC Wainwright restated a “buy” rating and set a $21.00 target price (down from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. 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. Finally, Benchmark dropped their price target on shares of 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. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $21.00.

Bitdeer Technologies Group Stock Performance

BTDR stock opened at $10.00 on Wednesday. The company’s 50 day moving average price is $15.05 and its 200 day moving average price is $13.16. Bitdeer Technologies Group has a fifty-two week low of $5.23 and a fifty-two week high of $26.99. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -19.23 and a beta of 2.12.

Institutional Investors Weigh In On Bitdeer Technologies Group

Large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bitdeer Technologies Group by 281.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock valued at $1,933,000 after acquiring an additional 182,110 shares during the period. FengHe Fund Management Pte. Ltd. acquired a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at approximately $10,378,000. Mirabella Financial Services LLP acquired a new stake in shares of Bitdeer Technologies Group in the third quarter valued at approximately $5,872,000. Barclays PLC acquired a new stake in shares of Bitdeer Technologies Group in the third quarter valued at approximately $161,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Bitdeer Technologies Group by 14.6% in the third quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock valued at $2,886,000 after acquiring an additional 46,968 shares during the period. 22.25% of the stock is owned by institutional investors and hedge funds.

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.