Bitdeer Technologies Group (NASDAQ:BTDR) Given New $24.00 Price Target at Benchmark

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price lowered by Benchmark from $29.00 to $24.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on BTDR. Needham & Company LLC cut their target price on Bitdeer Technologies Group from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday. B. Riley upped their price objective on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. HC Wainwright reiterated a “buy” rating and issued a $21.00 target price (down previously from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday. Roth Mkm boosted their target price on Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods started coverage on shares of Bitdeer Technologies Group in a research note on Monday, January 27th. They issued an “outperform” rating and a $26.50 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $21.18.

Bitdeer Technologies Group Trading Up 10.7 %

Shares of Bitdeer Technologies Group stock opened at $10.25 on Wednesday. The company has a market cap of $1.15 billion, a PE ratio of -19.71 and a beta of 2.04. The company has a 50 day moving average of $18.60 and a 200-day moving average of $12.79. Bitdeer Technologies Group has a 1-year low of $5.23 and a 1-year high of $26.99.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its stake in shares of Bitdeer Technologies Group by 281.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock valued at $1,933,000 after acquiring an additional 182,110 shares during the last quarter. FengHe Fund Management Pte. Ltd. acquired a new stake in Bitdeer Technologies Group in the fourth quarter valued at $10,378,000. Mirabella Financial Services LLP bought a new position in Bitdeer Technologies Group during the 3rd quarter worth $5,872,000. Barclays PLC acquired a new position in Bitdeer Technologies Group during the 3rd quarter worth about $161,000. Finally, Geode Capital Management LLC grew its position in shares of Bitdeer Technologies Group by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock valued at $2,886,000 after buying an additional 46,968 shares during the last quarter. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Company Profile

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.