Needham & Company LLC Has Lowered Expectations for Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price lowered by Needham & Company LLC from $18.00 to $15.00 in a research report released on Wednesday morning, Marketbeat.com reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Roth Mkm restated a “buy” rating and set a $23.50 target price (down from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. 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 report on Wednesday, February 26th. Keefe, Bruyette & Woods assumed coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They set an “outperform” rating and a $26.50 target price for the company. Benchmark dropped their target price on Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, Rosenblatt Securities dropped their target price on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a report on Monday. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $21.00.

Bitdeer Technologies Group Trading Up 11.5 %

Shares of Bitdeer Technologies Group stock opened at $10.57 on Wednesday. The firm has a market capitalization of $1.18 billion, a PE ratio of -20.33 and a beta of 2.12. Bitdeer Technologies Group has a 12 month low of $5.23 and a 12 month high of $26.99. The business’s 50-day moving average price is $15.22 and its 200-day moving average price is $13.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $566,000. Public Employees Retirement System of Ohio lifted its stake in shares of 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 purchasing an additional 1,200 shares during the period. Two Seas Capital LP purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $9,384,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Bitdeer Technologies Group by 118.2% in 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 purchasing an additional 33,182 shares during the period. Finally, Voloridge Investment Management LLC purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $16,834,000. 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.