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

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price lowered by equities research analysts at Rosenblatt Securities from $25.00 to $12.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 50.94% from the company’s current price.

Several other brokerages have also issued reports on BTDR. Keefe, Bruyette & Woods started coverage on Bitdeer Technologies Group in a research report on Monday, January 27th. They set an “outperform” rating and a $26.50 target price for the company. HC Wainwright restated a “buy” rating and set a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Needham & Company LLC cut their price objective 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 decreased their target price on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Northland Securities boosted their price target on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Ten investment 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, Bitdeer Technologies Group has an average rating of “Buy” and a consensus target price of $19.70.

Bitdeer Technologies Group Price Performance

NASDAQ:BTDR opened at $7.95 on Thursday. The firm’s 50 day simple moving average is $11.44 and its 200 day simple moving average is $13.47. The company has a market cap of $890.13 million, a PE ratio of -15.29 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.

Institutional Trading of Bitdeer Technologies Group

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Bitdeer Technologies Group by 281.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock valued at $1,933,000 after buying an additional 182,110 shares during the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at approximately $10,378,000. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group during the third quarter valued at approximately $161,000. Geode Capital Management LLC grew its holdings in Bitdeer Technologies Group by 14.6% during the third quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock worth $2,886,000 after buying an additional 46,968 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Bitdeer Technologies Group in the 3rd quarter valued at $220,000. Institutional investors and hedge funds 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.