Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down – What’s Next?

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $23.56, but opened at $22.90. Bitdeer Technologies Group shares last traded at $24.76, with a volume of 1,874,055 shares.

Analysts Set New Price Targets

BTDR has been the subject of several analyst reports. Rosenblatt Securities increased their price target on shares of Bitdeer Technologies Group from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, November 19th. B. Riley lifted their price target on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Roth Mkm increased their price objective on Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Finally, Benchmark boosted their target price on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $19.80.

Bitdeer Technologies Group Stock Performance

The company has a 50 day simple moving average of $14.03 and a two-hundred day simple moving average of $10.32. The firm has a market cap of $2.65 billion, a PE ratio of -45.48 and a beta of 2.27.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in Bitdeer Technologies Group during the 3rd quarter worth approximately $66,000. Centiva Capital LP purchased a new position in shares of Bitdeer Technologies Group during the third quarter worth $91,000. Barclays PLC acquired a new position in Bitdeer Technologies Group during the third quarter valued at $161,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Bitdeer Technologies Group in the third quarter valued at $169,000. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in Bitdeer Technologies Group during the 2nd quarter worth about $272,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.