Rosenblatt Securities Adjusts Price Target for Bitdeer Technologies Group (NASDAQ:BTDR)

Rosenblatt Securities has revised its target price for Bitdeer Technologies Group (NASDAQ:BTDR) from $30.00 to $25.00, as revealed in a recent report issued on Monday. Despite this adjustment, the firm continues to maintain a buy rating on the stock.

Multiple research organizations have also provided their insights regarding BTDR recently. For instance, Roth MKM reaffirmed a "buy" rating while adjusting its price target down to $23.50 from $29.00 in a note released on February 26. Similarly, B. Riley raised their target price from $15.00 to $24.00 while keeping a buy rating in their report dated December 19. Benchmark also lowered its price target from $29.00 to $24.00, maintaining a buy rating, in a note issued on February 26.

In addition, Northland Securities increased their target from $20.00 to $24.00 and assigned an "outperform" rating on January 10. Needham & Company LLC decreased their target from $22.00 to $18.00 while sticking with a buy rating in their assessment on February 26. Currently, out of a total of eleven analysts reviewing the stock, ten recommend it as a buy, while one assigns it a strong buy rating. According to data from MarketBeat.com, the average rating for BTDR is a "Buy" with an average price target of approximately $21.30.

Bitdeer Technologies Group Stock Overview

On Monday, BTDR shares opened at $10.48. The 50-day moving average for the stock stands at about $15.58, while the 200-day moving average is around $13.18. The stock has seen a 52-week low of $5.23 and a high of $26.99. Currently, Bitdeer Technologies Group has a market capitalization of $1.17 billion and a P/E ratio of -20.15, with a beta value of 2.12.

Institutional Investment Trends

Recent activities by institutional investors indicate growing interest in Bitdeer Technologies Group. Yong Rong HK Asset Management Ltd established a new stake in BTDR during Q4, investing approximately $65,010,000. Trivest Advisors Ltd also entered into a new position valued at about $48,481,000, while Van ECK Associates Corp invested around $29,125,000 in the same period. Notably, Renaissance Technologies LLC dramatically increased its holdings by 3,558.6%, acquiring an additional 1,206,361 shares, bringing its total to 1,240,261 shares worth approximately $26,876,000. Lastly, Voloridge Investment Management LLC made a new investment of about $16,834,000. Presently, institutional investors collectively own about 22.25% of Bitdeer’s stock.

About Bitdeer Technologies Group

Bitdeer Technologies Group operates in the technology sector, focusing on blockchain and computing solutions. The company specializes in providing hash rate sharing solutions, including cloud-based services and a hash rate marketplace, alongside comprehensive mining machine hosting services which include deployment, maintenance, and management services for effective cryptocurrency mining. Additionally, Bitdeer engages in cryptocurrency mining for its own account.

Bitdeer, Rosenblatt, Securities