Bitdeer Technologies Group (NASDAQ:BTDR) Research Coverage Started at Needham & Company LLC

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

BTDR has been the topic of several other research reports. B. Riley initiated coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, March 12th. They set a buy rating and a $9.00 price target on the stock. BTIG Research assumed coverage on shares of Bitdeer Technologies Group in a report on Wednesday, March 13th. They set a buy rating and a $15.00 price objective for the company. Roth Mkm assumed coverage on shares of Bitdeer Technologies Group in a report on Thursday, February 29th. They issued a buy rating and a $14.00 price target for the company. Rosenblatt Securities began coverage on shares of Bitdeer Technologies Group in a report on Tuesday, April 9th. They issued a buy rating and a $10.50 price target for the company. Finally, 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. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $13.64.

Bitdeer Technologies Group Trading Up 2.7 %

Shares of BTDR stock opened at $5.69 on Monday. The company’s fifty day simple moving average is $7.01 and its 200-day simple moving average is $6.53. Bitdeer Technologies Group has a 52 week low of $2.77 and a 52 week high of $14.65. The company has a market cap of $637.11 million, a PE ratio of -13.55 and a beta of 1.70.

Institutional Trading of Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently made changes to their positions in BTDR. Nomura Holdings Inc. acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $15,350,000. Van ECK Associates Corp raised its holdings in shares of Bitdeer Technologies Group by 196.2% during the fourth quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock valued at $10,848,000 after acquiring an additional 728,804 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Bitdeer Technologies Group by 83.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock valued at $5,265,000 after acquiring an additional 243,245 shares during the period. EDBI Pte Ltd acquired a new stake in shares of Bitdeer Technologies Group during the third quarter valued at approximately $3,444,000. Finally, Vident Advisory LLC grew its position in Bitdeer Technologies Group by 422.7% during the fourth quarter. Vident Advisory LLC now owns 303,260 shares of the company’s stock valued at $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.