Needham & Company LLC Reaffirms “Buy” Rating for Bitdeer Technologies Group (NASDAQ:BTDR)

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

A number of other analysts have also commented on BTDR. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Benchmark reiterated a “buy” rating and issued a $16.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, August 13th. Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. HC Wainwright increased their price target on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $9.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, October 8th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $14.80.

Bitdeer Technologies Group Price Performance

BTDR stock opened at $11.54 on Tuesday. Bitdeer Technologies Group has a 1 year low of $4.10 and a 1 year high of $14.27. The business has a 50 day simple moving average of $8.44 and a 200-day simple moving average of $8.15. The firm has a market capitalization of $1.29 billion, a PE ratio of -22.19 and a beta of 1.92.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth about $161,000. Geode Capital Management LLC boosted its holdings in shares of Bitdeer Technologies Group by 14.6% during the 3rd quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock valued at $2,886,000 after acquiring an additional 46,968 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Bitdeer Technologies Group in the 3rd quarter worth approximately $66,000. Y Intercept Hong Kong Ltd boosted its stake in shares of Bitdeer Technologies Group by 96.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock worth $347,000 after buying an additional 21,798 shares during the last quarter. Finally, State Street Corp bought a new stake in shares of Bitdeer Technologies Group in the third quarter worth $1,510,000. 22.25% of the stock is owned by 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.