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

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

Several other brokerages have also issued reports on BTDR. B. Riley initiated coverage on Bitdeer Technologies Group in a research report on Tuesday, March 12th. They set a buy rating and a $9.00 target price for the company. 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 research report on Wednesday, March 13th. They issued a buy rating and a $15.00 price objective for the company. Benchmark reissued a buy rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Wednesday, March 27th. Finally, Roth Mkm began coverage on Bitdeer Technologies Group in a research note on Thursday, February 29th. They issued a buy rating and a $14.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $13.64.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ BTDR opened at $5.69 on Monday. The business’s 50 day moving average is $7.01 and its two-hundred day moving average is $6.53. Bitdeer Technologies Group has a 1-year low of $2.77 and a 1-year high of $14.65. The stock has a market capitalization of $637.11 million, a P/E ratio of -13.55 and a beta of 1.70.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently modified their holdings of the stock. Nomura Holdings Inc. acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at about $15,350,000. Wellington Management Group LLP purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at approximately $116,000. Barclays PLC raised its position in shares of Bitdeer Technologies Group by 880.4% during the 4th quarter. Barclays PLC now owns 50,000 shares of the company’s stock valued at $493,000 after buying an additional 44,900 shares during the period. Vident Advisory LLC raised its position in shares of Bitdeer Technologies Group by 422.7% during the 4th quarter. Vident Advisory LLC now owns 303,260 shares of the company’s stock valued at $2,990,000 after buying an additional 245,242 shares during the period. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at approximately $127,000. Hedge funds and other institutional investors 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.