Needham & Company LLC Initiates Coverage on Bitdeer Technologies Group (NASDAQ:BTDR)

Research analysts at Needham & Company LLC began coverage on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research note issued to investors on Monday, MarketBeat reports. The firm set a “buy” rating and a $14.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 158.30% from the company’s current price.

Several other analysts have also issued reports on BTDR. BTIG Research started coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, March 13th. They set a “buy” rating and a $15.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, March 26th. Rosenblatt Securities started coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, April 9th. They issued a “buy” rating and a $10.50 price objective for the company. Roth Mkm started coverage on shares of Bitdeer Technologies Group in a research note on Thursday, February 29th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, B. Riley initiated coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, March 12th. They issued a “buy” rating and a $9.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $13.64.

Bitdeer Technologies Group Stock Down 4.1 %

BTDR opened at $5.42 on Monday. The firm has a 50 day moving average price of $7.09 and a 200-day moving average price of $6.54. Bitdeer Technologies Group has a twelve month low of $2.77 and a twelve month high of $14.65. The stock has a market capitalization of $606.88 million, a price-to-earnings ratio of -12.90 and a beta of 1.70.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several institutional investors have recently bought and sold shares of BTDR. Nomura Holdings Inc. bought a new position in Bitdeer Technologies Group during the fourth quarter valued at $15,350,000. Van ECK Associates Corp lifted 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 worth $10,848,000 after acquiring an additional 728,804 shares during the last quarter. EDBI Pte Ltd bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter worth about $3,444,000. Exchange Traded Concepts LLC bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter worth about $2,803,000. Finally, Vident Advisory LLC lifted its holdings in shares of Bitdeer Technologies Group by 422.7% in the 4th quarter. Vident Advisory LLC now owns 303,260 shares of the company’s stock worth $2,990,000 after acquiring an additional 245,242 shares during the last quarter. Institutional investors own 22.25% of the company’s stock.

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.