Bitdeer Technologies Group (NASDAQ:BTDR) Sees Large Volume Increase – Should You Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) shares saw unusually-high trading volume on Friday . Approximately 5,283,339 shares changed hands during mid-day trading, an increase of 128% from the previous session’s volume of 2,321,568 shares.The stock last traded at $11.39 and had previously closed at $11.19.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BTDR. Needham & Company LLC restated a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Benchmark reiterated a “buy” rating and set a $16.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Rosenblatt Securities increased their price objective on shares of Bitdeer Technologies Group from $9.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Northland Capmk upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Alliance Global Partners began coverage on Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price objective on the stock. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Bitdeer Technologies Group presently has an average rating of “Buy” and an average price target of $14.80.

Bitdeer Technologies Group Trading Up 3.1 %

The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -22.19 and a beta of 1.92. The stock’s fifty day moving average price is $8.44 and its two-hundred day moving average price is $8.17.

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors have recently bought and sold shares of BTDR. Virtu Financial LLC purchased a new position in shares of Bitdeer Technologies Group in the 1st quarter valued at about $431,000. Central Asset Investments & Management Holdings HK Ltd purchased a new position in Bitdeer Technologies Group in the second quarter valued at approximately $272,000. Thomist Capital Management LP acquired a new stake in Bitdeer Technologies Group during the second quarter worth approximately $1,156,000. XTX Topco Ltd purchased a new stake in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $276,000. Finally, Symmetry Investments LP acquired a new position in shares of Bitdeer Technologies Group in the 2nd quarter valued at $432,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.