Bitdeer Technologies Group (NASDAQ:BTDR) Trading 6.9% Higher – Still a Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) shot up 6.9% during mid-day trading on Monday . The stock traded as high as $10.78 and last traded at $10.70. 511,012 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 4,110,868 shares. The stock had previously closed at $10.01.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BTDR shares. B. Riley boosted their price target on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods initiated coverage on shares of Bitdeer Technologies Group in a research report on Monday, January 27th. They set an “outperform” rating and a $26.50 price objective for the company. Benchmark cut their price objective on Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Needham & Company LLC decreased their price target on shares of Bitdeer Technologies Group from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Finally, Northland Securities upped their target price on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $21.00.

Bitdeer Technologies Group Trading Up 13.3 %

The firm has a 50 day moving average price of $14.88 and a two-hundred day moving average price of $13.29. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -21.81 and a beta of 2.12.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in Bitdeer Technologies Group during the 4th quarter valued at approximately $42,000. Stonebridge Financial Group LLC acquired a new position in Bitdeer Technologies Group during the 4th quarter worth $65,000. SBI Securities Co. Ltd. acquired a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at about $79,000. Wells Fargo & Company MN increased its holdings in Bitdeer Technologies Group by 56.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock valued at $93,000 after buying an additional 1,540 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Bitdeer Technologies Group during the 4th quarter worth approximately $116,000. Institutional investors and hedge funds 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.