Bitdeer Technologies Group (NASDAQ:BTDR) Price Target Lowered to $24.00 at Benchmark

Bitdeer Technologies Group (NASDAQ:BTDR) had its target price dropped by stock analysts at Benchmark from $29.00 to $24.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 130.39% from the stock’s current price.

BTDR has been the subject of several other reports. Needham & Company LLC lowered their price objective on shares of Bitdeer Technologies Group from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday. Roth Mkm boosted their price target on Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Northland Securities raised their price objective on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. 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. Finally, B. Riley increased their target price on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $21.68.

Bitdeer Technologies Group Trading Up 12.5 %

BTDR stock traded up $1.16 during mid-day trading on Wednesday, hitting $10.42. The stock had a trading volume of 2,546,075 shares, compared to its average volume of 6,993,855. The firm has a fifty day simple moving average of $18.78 and a 200 day simple moving average of $12.81. The firm has a market capitalization of $1.17 billion, a P/E ratio of -20.03 and a beta of 2.04. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several large investors have recently added to or reduced their stakes in BTDR. Yong Rong HK Asset Management Ltd acquired a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at $65,010,000. Trivest Advisors Ltd bought a new stake in Bitdeer Technologies Group in the fourth quarter valued at $48,481,000. Van ECK Associates Corp acquired a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at about $29,125,000. Renaissance Technologies LLC boosted its position in shares of Bitdeer Technologies Group by 3,558.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company’s stock worth $26,876,000 after purchasing an additional 1,206,361 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at about $16,834,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.