Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – Should You Buy?

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $19.40, but opened at $20.45. Bitdeer Technologies Group shares last traded at $19.89, with a volume of 2,012,335 shares.

Wall Street Analyst Weigh In

BTDR has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. B. Riley lowered their target price on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, November 19th. HC Wainwright boosted their price target on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Alliance Global Partners initiated coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price objective for the company. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bitdeer Technologies Group currently has a consensus rating of “Buy” and an average price target of $18.60.

Bitdeer Technologies Group Stock Performance

The stock has a market cap of $2.12 billion, a PE ratio of -36.35 and a beta of 2.27. The company’s 50-day moving average price is $12.05 and its 200 day moving average price is $9.61.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BTDR. Public Employees Retirement System of Ohio acquired a new position in shares of Bitdeer Technologies Group in the third quarter worth $66,000. Centiva Capital LP acquired a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth $91,000. Barclays PLC acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Bitdeer Technologies Group during the third quarter worth $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Bitdeer Technologies Group in the 3rd quarter worth about $220,000. Hedge funds and other institutional investors 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.