Bitdeer Technologies Group (NASDAQ:BTDR) Coverage Initiated at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a report released on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $14.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. HC Wainwright reaffirmed a buy rating and issued a $20.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, March 26th. B. Riley started coverage on shares of Bitdeer Technologies Group in a report on Tuesday, March 12th. They issued a buy rating and a $9.00 target price on the stock. Rosenblatt Securities started coverage on shares of Bitdeer Technologies Group in a report on Tuesday, April 9th. They issued a buy rating and a $10.50 target price on the stock. Benchmark reiterated a buy rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a report on Wednesday, March 27th. Finally, Roth Mkm started coverage on shares of Bitdeer Technologies Group in a report on Thursday, February 29th. They issued a buy rating and a $14.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $13.64.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $5.65 on Monday. Bitdeer Technologies Group has a 52-week low of $2.77 and a 52-week high of $14.65. The stock has a market cap of $632.63 million, a PE ratio of -13.45 and a beta of 1.70. The firm’s 50 day moving average price is $7.12 and its two-hundred day moving average price is $6.57.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nomura Holdings Inc. acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $15,350,000. Wellington Management Group LLP acquired a new stake in Bitdeer Technologies Group in the 4th quarter valued at $116,000. Barclays PLC grew its position in shares of Bitdeer Technologies Group by 880.4% in the 4th quarter. Barclays PLC now owns 50,000 shares of the company’s stock valued at $493,000 after acquiring an additional 44,900 shares during the period. Vident Advisory LLC grew its position in shares of Bitdeer Technologies Group by 422.7% in the 4th quarter. Vident Advisory LLC now owns 303,260 shares of the company’s stock valued at $2,990,000 after acquiring an additional 245,242 shares during the period. Finally, Occudo Quantitative Strategies LP bought a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $127,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group operates as a technology company for the cryptocurrency mining community. It mines cryptocurrencies for its own account and serve the cryptocurrency mining community by providing cryptocurrency mining solution. The company handles various processes involved in mining, such as miner procurement, transport logistics, mining datacenter design and construction, mining machine management, and daily operations.