Needham Initiates Coverage of Bitdeer Technologies Group (BTDR) with Buy Recommendation

Fintel reports that on April 15, 2024, Needham initiated coverage of Bitdeer Technologies Group (NasdaqCM:BTDR) with a Buy recommendation.

Analyst Price Forecast Suggests 146.94% Upside

As of March 31, 2024, the average one-year price target for Bitdeer Technologies Group is 13.94. The forecasts range from a low of 9.09 to a high of $21.00. The average price target represents an increase of 146.94% from its latest reported closing price of 5.64.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Bitdeer Technologies Group is 381MM, an increase of 3.51%. The projected annual non-GAAP EPS is 0.44.

What is the Fund Sentiment?

There are 54 funds or institutions reporting positions in Bitdeer Technologies Group. This is an increase of 7 owner(s) or 14.89% in the last quarter. Average portfolio weight of all funds dedicated to BTDR is 0.52%, a decrease of 20.46%. Total shares owned by institutions decreased in the last three months by 17.24% to 6,875K shares. The put/call ratio of BTDR is 1.07, indicating a bearish outlook.

What are Other Shareholders Doing?

Nomura Holdings holds 1,557K shares representing 1.35% ownership of the company.

Van Eck Associates holds 1,100K shares representing 0.95% ownership of the company. In it's prior filing, the firm reported owning 371K shares, representing an increase of 66.24%. The firm increased its portfolio allocation in BTDR by 151.25% over the last quarter.

BITQ - Bitwise Crypto Industry Innovators ETF holds 534K shares representing 0.46% ownership of the company. In it's prior filing, the firm reported owning 291K shares, representing an increase of 45.55%. The firm decreased its portfolio allocation in BTDR by 2.89% over the last quarter.

DAPP - VanEck Vectors Digital Transformation ETF holds 519K shares representing 0.45% ownership of the company. In it's prior filing, the firm reported owning 180K shares, representing an increase of 65.36%. The firm increased its portfolio allocation in BTDR by 34.21% over the last quarter.

Exchange Traded Concepts holds 462K shares representing 0.40% ownership of the company. In it's prior filing, the firm reported owning 534K shares, representing a decrease of 15.53%. The firm decreased its portfolio allocation in BTDR by 40.53% over the last quarter.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.