Bitdeer Technologies Group (NASDAQ:BTDR) Shares Up 10.8% – What’s Next?

Bitdeer Technologies Group (NASDAQ:BTDR) shares were up 10.8% during mid-day trading on Thursday . The company traded as high as $11.85 and last traded at $11.36. Approximately 2,224,937 shares changed hands during trading, a decline of 69% from the average daily volume of 7,102,242 shares. The stock had previously closed at $10.25.

Analyst Ratings Changes

Several analysts have issued reports on BTDR shares. Needham & Company LLC reduced their price target on shares of Bitdeer Technologies Group from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday. B. Riley upped their target price on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Northland Securities raised their price target on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Keefe, Bruyette & Woods assumed coverage on Bitdeer Technologies Group in a research report on Monday, January 27th. They issued an “outperform” rating and a $26.50 price objective on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, February 24th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Bitdeer Technologies Group has a consensus rating of “Buy” and an average target price of $21.18.

Bitdeer Technologies Group Trading Up 13.0 %

The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -23.67 and a beta of 2.04. The business has a 50 day simple moving average of $18.29 and a 200-day simple moving average of $12.81.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently bought and sold shares of the stock. Quarry LP purchased a new position in Bitdeer Technologies Group during the fourth quarter worth approximately $42,000. Stonebridge Financial Group LLC purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter worth $65,000. Public Employees Retirement System of Ohio acquired a new position in Bitdeer Technologies Group in the third quarter valued at $66,000. SBI Securities Co. Ltd. acquired a new position in Bitdeer Technologies Group in the fourth quarter valued at $79,000. Finally, Centiva Capital LP purchased a new stake in Bitdeer Technologies Group during the third quarter valued at about $91,000. 22.25% of the stock is currently 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.