Bitdeer Technologies Group (NASDAQ:BTDR) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a report released on Tuesday,Benzinga reports. Needham & Company LLC currently has a $14.00 price target on the stock.

BTDR has been the subject of a number of other research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $9.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday, October 8th. HC Wainwright raised their price objective on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday. B. Riley reduced their target price on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Finally, Northland Securities raised their price target on Bitdeer Technologies Group from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $14.80.

Bitdeer Technologies Group Stock Performance

Shares of Bitdeer Technologies Group stock opened at $11.54 on Tuesday. Bitdeer Technologies Group has a one year low of $3.91 and a one year high of $14.27. The company has a market capitalization of $1.29 billion, a PE ratio of -22.19 and a beta of 1.92. The company has a 50-day simple moving average of $8.15 and a two-hundred day simple moving average of $8.07.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of large investors have recently bought and sold shares of the company. Vident Advisory LLC lifted its stake in Bitdeer Technologies Group by 186.4% during the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock valued at $6,098,000 after acquiring an additional 565,362 shares during the period. Virtu Financial LLC acquired a new position in Bitdeer Technologies Group during the first quarter valued at $431,000. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Bitdeer Technologies Group in the second quarter valued at $272,000. Thomist Capital Management LP acquired a new stake in Bitdeer Technologies Group during the 2nd quarter worth about $1,156,000. Finally, XTX Topco Ltd purchased a new position in shares of Bitdeer Technologies Group during the 2nd quarter valued at about $276,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.