Bitdeer Technologies Group (NASDAQ:BTDR) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research note published on Monday, MarketBeat.com reports. The brokerage issued a buy rating and a $14.00 price target on the stock.

A number of other equities analysts have also commented on the stock. B. Riley assumed coverage on shares of Bitdeer Technologies Group in a report on Tuesday, March 12th. They issued a buy rating and a $9.00 price objective on the stock. HC Wainwright reaffirmed a buy rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, March 26th. BTIG Research initiated coverage on Bitdeer Technologies Group in a report on Wednesday, March 13th. They issued a buy rating and a $15.00 price target for the company. Roth Mkm assumed coverage on Bitdeer Technologies Group in a report on Thursday, February 29th. They set a buy rating and a $14.00 price objective on the stock. Finally, Benchmark reaffirmed a buy rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Wednesday, March 27th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $13.64.

Bitdeer Technologies Group Trading Up 2.2 %

NASDAQ BTDR opened at $5.54 on Monday. The stock has a market cap of $620.29 million, a P/E ratio of -13.19 and a beta of 1.70. The company’s fifty day simple moving average is $7.06 and its 200-day simple moving average is $6.54. Bitdeer Technologies Group has a 52 week low of $2.77 and a 52 week high of $14.65.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. UBS Group AG acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at approximately $35,000. Deutsche Bank AG bought a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth about $41,000. Barclays PLC acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $49,000. Wellington Management Group LLP acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth about $116,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth about $127,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

About Bitdeer Technologies Group

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.