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

by · The Markets Daily

Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) had its price objective boosted by analysts at Needham & Company LLC from $14.00 to $22.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 18.92% from the stock’s previous close.

Several other brokerages have also weighed in on BTDR. Benchmark raised their price objective on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, December 9th. B. Riley raised their price objective on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Finally, Northland Securities lifted 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 report on Friday. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $21.00.

Check Out Our Latest Stock Report on BTDR

Bitdeer Technologies Group Stock Performance

Shares of BTDR opened at $18.50 on Monday. The firm has a market cap of $2.07 billion, a PE ratio of -35.58 and a beta of 2.09. The firm’s 50 day moving average price is $16.64 and its 200 day moving average price is $11.19. Bitdeer Technologies Group has a twelve month low of $5.23 and a twelve month high of $26.99.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Bitdeer Technologies Group in the third quarter worth $66,000. Centiva Capital LP acquired a new stake in shares of Bitdeer Technologies Group in the third quarter worth $91,000. Barclays PLC acquired a new stake in shares of Bitdeer Technologies Group in the third quarter worth $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Bitdeer Technologies Group in the third quarter worth $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Bitdeer Technologies Group in the third quarter worth $220,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

(Get Free Report)

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.

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