Needham & Company LLC Boosts Bitdeer Technologies Group (NASDAQ:BTDR) Price Target to $30.00

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target raised by equities researchers at Needham & Company LLC from $17.00 to $30.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 24.90% from the company’s current price.

Several other equities research analysts have also recently issued reports on BTDR. HC Wainwright raised their target price on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 18th. Jones Trading initiated coverage on shares of Bitdeer Technologies Group in a research report on Monday, October 6th. They issued a “buy” rating and a $32.00 target price on the stock. Cantor Fitzgerald raised their price target on shares of Bitdeer Technologies Group from $30.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday. Benchmark restated a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Finally, Wall Street Zen lowered shares of Bitdeer Technologies Group from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.58.

Bitdeer Technologies Group Price Performance

BTDR opened at $24.02 on Thursday. The company’s 50 day simple moving average is $16.21 and its 200 day simple moving average is $13.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 1.03. Bitdeer Technologies Group has a 1 year low of $6.84 and a 1 year high of $27.80. The stock has a market capitalization of $5.09 billion, a PE ratio of -5.11 and a beta of 2.25.

Institutional Trading of Bitdeer Technologies Group

Hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in shares of Bitdeer Technologies Group by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock valued at $30,000 after purchasing an additional 1,044 shares during the period. Stonebridge Financial Group LLC raised its stake in shares of Bitdeer Technologies Group by 33.3% during the first quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares during the period. Amalgamated Bank acquired a new stake in shares of Bitdeer Technologies Group during the second quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Bitdeer Technologies Group during the first quarter worth approximately $55,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Bitdeer Technologies Group by 7,157.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock worth $83,000 after buying an additional 7,157 shares in the last quarter. 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.