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

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $22.29, but opened at $23.94. Bitdeer Technologies Group shares last traded at $22.87, with a volume of 1,694,112 shares trading hands.

Analyst Upgrades and Downgrades

BTDR has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday, November 19th. Benchmark raised their price objective on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Rosenblatt Securities increased their target price on shares of Bitdeer Technologies Group from $17.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $19.80.

Bitdeer Technologies Group Trading Down 0.9 %

The firm has a market cap of $2.47 billion, a P/E ratio of -42.50 and a beta of 2.27. The company’s 50-day moving average is $14.03 and its two-hundred day moving average is $10.35.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Bitdeer Technologies Group by 281.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock worth $1,933,000 after acquiring an additional 182,110 shares in the last quarter. Millennium Management LLC grew its position in Bitdeer Technologies Group by 901.0% in the 2nd quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock worth $4,210,000 after purchasing an additional 369,363 shares in the last quarter. Mirabella Financial Services LLP bought a new stake in Bitdeer Technologies Group in the 3rd quarter worth about $5,872,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Bitdeer Technologies Group in the 3rd quarter valued at about $220,000. Finally, Quadrature Capital Ltd bought a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $285,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.