Bitdeer Technologies Group (NASDAQ:BTDR) Now Covered by Needham & Company LLC

Stock analysts at Needham & Company LLC began coverage on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research note issued on Monday, MarketBeat.com reports. The brokerage set a “buy” rating and a $14.00 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 158.30% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Roth Mkm assumed coverage on shares of Bitdeer Technologies Group in a research note on Thursday, February 29th. They set a “buy” rating and a $14.00 price target on the stock. Rosenblatt Securities initiated coverage on Bitdeer Technologies Group in a report on Tuesday, April 9th. They issued a “buy” rating and a $10.50 price target for the company. Benchmark reaffirmed a “buy” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a report on Wednesday, March 27th. B. Riley initiated coverage on Bitdeer Technologies Group in a report on Tuesday, March 12th. They issued a “buy” rating and a $9.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, March 26th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $13.64.

Bitdeer Technologies Group Trading Down 4.1 %

Shares of BTDR stock opened at $5.42 on Monday. Bitdeer Technologies Group has a 1 year low of $2.77 and a 1 year high of $14.65. The firm’s fifty day simple moving average is $7.09 and its 200 day simple moving average is $6.54. The firm has a market capitalization of $606.88 million, a P/E ratio of -12.90 and a beta of 1.70.

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nomura Holdings Inc. acquired a new position in Bitdeer Technologies Group during the 4th quarter worth approximately $15,350,000. Van ECK Associates Corp boosted its holdings in shares of Bitdeer Technologies Group by 196.2% in the 4th quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock valued at $10,848,000 after buying an additional 728,804 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in Bitdeer Technologies Group by 83.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock valued at $5,265,000 after acquiring an additional 243,245 shares during the period. EDBI Pte Ltd bought a new stake in Bitdeer Technologies Group in the 3rd quarter valued at $3,444,000. Finally, Vident Advisory LLC raised its stake in Bitdeer Technologies Group by 422.7% in the 4th quarter. Vident Advisory LLC now owns 303,260 shares of the company’s stock valued at $2,990,000 after acquiring an additional 245,242 shares during the period. 22.25% of the stock is owned by institutional investors.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group operates as a technology company for the cryptocurrency mining community. It mines cryptocurrencies for its own account and serve the cryptocurrency mining community by providing cryptocurrency mining solution. The company handles various processes involved in mining, such as miner procurement, transport logistics, mining datacenter design and construction, mining machine management, and daily operations.