Bitdeer Technologies Group (NASDAQ:BTDR) Receives New Coverage from Analysts at Needham & Company LLC

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

BTDR has been the topic of several other reports. B. Riley assumed coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, March 12th. They set a buy rating and a $9.00 target price on the stock. HC Wainwright reissued a buy rating and set a $20.00 target price 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 set a buy rating and a $10.50 target price on the stock. Roth Mkm started coverage on shares of Bitdeer Technologies Group in a report on Thursday, February 29th. They set a buy rating and a $14.00 price target on the stock. Finally, BTIG Research started coverage on shares of Bitdeer Technologies Group in a report on Wednesday, March 13th. They set a buy rating and a $15.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $13.64.

Bitdeer Technologies Group Stock Performance

NASDAQ BTDR opened at $5.65 on Monday. The stock has a market capitalization of $632.63 million, a P/E ratio of -13.45 and a beta of 1.70. Bitdeer Technologies Group has a 1 year low of $2.77 and a 1 year high of $14.65. The business’s fifty day moving average is $7.12 and its two-hundred day moving average is $6.57.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of large investors have recently bought and sold shares of BTDR. Nomura Holdings Inc. bought a new stake in Bitdeer Technologies Group in the fourth quarter worth $15,350,000. Van ECK Associates Corp boosted its holdings in Bitdeer Technologies Group by 196.2% in the fourth quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock worth $10,848,000 after purchasing an additional 728,804 shares in the last quarter. EDBI Pte Ltd bought a new stake in Bitdeer Technologies Group in the third quarter worth $3,444,000. Exchange Traded Concepts LLC bought a new stake in Bitdeer Technologies Group in the third quarter worth $2,803,000. Finally, Vident Advisory LLC boosted its holdings in Bitdeer Technologies Group by 422.7% in the fourth quarter. Vident Advisory LLC now owns 303,260 shares of the company’s stock worth $2,990,000 after purchasing an additional 245,242 shares in the last quarter. 22.25% of the stock is currently owned by institutional investors.

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.