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

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target trimmed by Rosenblatt Securities from $25.00 to $12.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on the company. Northland Securities lifted their price target on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Roth Mkm reaffirmed a “buy” rating and set a $23.50 target price (down previously from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Needham & Company LLC decreased their price target on Bitdeer Technologies Group from $18.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Keefe, Bruyette & Woods assumed coverage on 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $19.70.

Bitdeer Technologies Group Trading Up 4.6 %

Bitdeer Technologies Group stock opened at $7.95 on Thursday. The firm has a market capitalization of $890.13 million, a price-to-earnings ratio of -15.29 and a beta of 2.25. The firm’s fifty day moving average price is $11.44 and its two-hundred day moving average price is $13.47. Bitdeer Technologies Group has a 1-year low of $5.23 and a 1-year high of $26.99.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently made changes to their positions in BTDR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Bitdeer Technologies Group by 3.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,358 shares of the company’s stock valued at $636,000 after buying an additional 916 shares during the period. Public Employees Retirement System of Ohio raised its position in Bitdeer Technologies Group by 14.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 9,600 shares of the company’s stock worth $208,000 after acquiring an additional 1,200 shares during the period. Wells Fargo & Company MN boosted its stake in Bitdeer Technologies Group by 56.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock valued at $93,000 after acquiring an additional 1,540 shares during the last quarter. Quarry LP bought a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at approximately $42,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $65,000. 22.25% of the stock is currently owned by 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.