Rosenblatt Securities Has Lowered Expectations for Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price trimmed by Rosenblatt Securities from $30.00 to $25.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently commented on BTDR. Roth Mkm restated a “buy” rating and issued a $23.50 price target (down from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. B. Riley upped their price target on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Benchmark decreased their price target on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Northland Securities upped their price target on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, Needham & Company LLC decreased their price target on shares of Bitdeer Technologies Group from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $21.30.

Bitdeer Technologies Group Stock Performance

BTDR stock opened at $10.48 on Monday. The company’s 50-day simple moving average is $15.58 and its 200 day simple moving average is $13.18. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99. The company has a market capitalization of $1.17 billion, a PE ratio of -20.15 and a beta of 2.12.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BTDR. Yong Rong HK Asset Management Ltd bought a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $65,010,000. Trivest Advisors Ltd bought a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $48,481,000. Van ECK Associates Corp bought a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $29,125,000. Renaissance Technologies LLC lifted its holdings in shares of Bitdeer Technologies Group by 3,558.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company’s stock worth $26,876,000 after acquiring an additional 1,206,361 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $16,834,000. 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.