Bitdeer Technologies Group (NASDAQ:BTDR) Trading Up 4.2%

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) were up 4.2% during mid-day trading on Thursday . The stock traded as high as $7.01 and last traded at $6.87. Approximately 212,963 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 1,952,568 shares. The stock had previously closed at $6.59.

Analyst Ratings Changes

A number of brokerages recently commented on BTDR. B. Riley increased their price target on Bitdeer Technologies Group from $9.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Cantor Fitzgerald upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, June 12th. Needham & Company LLC restated a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. Roth Mkm reiterated a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $9.00 target price on shares of Bitdeer Technologies Group in a report on Wednesday, August 14th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Bitdeer Technologies Group presently has a consensus rating of “Buy” and a consensus price target of $14.00.

Bitdeer Technologies Group Trading Down 1.1 %

The stock has a market capitalization of $732.26 million, a PE ratio of -15.95 and a beta of 1.96. The business’s 50 day moving average is $9.10 and its 200 day moving average is $7.61.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $4,617,000. Millennium Management LLC boosted its stake in shares of Bitdeer Technologies Group by 901.0% during the second quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock valued at $4,210,000 after purchasing an additional 369,363 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Bitdeer Technologies Group in the second quarter worth about $4,510,000. Marshall Wace LLP purchased a new position in Bitdeer Technologies Group in the 2nd quarter worth about $5,074,000. Finally, D1 Capital Partners L.P. bought a new stake in Bitdeer Technologies Group during the 2nd quarter valued at about $5,386,000. Institutional investors own 22.25% of the company’s stock.

About Bitdeer Technologies Group

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.