Needham & Company LLC Forecasts Strong Price Appreciation for Bitdeer Technologies Group (NASDAQ:BTDR) Stock

Bitdeer Technologies Group (NASDAQ:BTDR) had its price target lifted by stock analysts at Needham & Company LLC from $14.00 to $22.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 15.55% from the company’s current price.

BTDR has been the topic of a number of other research reports. Rosenblatt Securities restated a “buy” rating and issued a $22.00 price objective on shares of Bitdeer Technologies Group in a report on Monday. B. Riley raised their price target on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Roth Mkm boosted their price target on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. HC Wainwright increased their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Northland Securities boosted their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $21.00.

Bitdeer Technologies Group Stock Performance

Bitdeer Technologies Group stock opened at $19.04 on Monday. The company’s fifty day moving average price is $17.07 and its 200 day moving average price is $11.30. The stock has a market capitalization of $2.13 billion, a P/E ratio of -36.61 and a beta of 2.09. Bitdeer Technologies Group has a 1 year low of $5.23 and a 1 year high of $26.99.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at $66,000. Centiva Capital LP purchased a new stake in Bitdeer Technologies Group in the 3rd quarter valued at about $91,000. International Assets Investment Management LLC acquired a new position in Bitdeer Technologies Group in the fourth quarter valued at about $308,000. Barclays PLC purchased a new position in Bitdeer Technologies Group during the third quarter worth about $161,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Bitdeer Technologies Group during the third quarter valued at about $169,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.