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

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $9.48, but opened at $9.99. Bitdeer Technologies Group shares last traded at $10.01, with a volume of 292,200 shares.

Analyst Ratings Changes

Several brokerages have recently commented on BTDR. Northland Securities increased their price objective on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Rosenblatt Securities dropped their price target on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Monday. Benchmark dropped their price target 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 dropped their price target on Bitdeer Technologies Group from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, B. Riley lifted their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bitdeer Technologies Group presently has an average rating of “Buy” and an average target price of $21.00.

Bitdeer Technologies Group Stock Down 5.4 %

The company has a 50-day moving average of $15.05 and a 200 day moving average of $13.16. The firm has a market capitalization of $1.12 billion, a PE ratio of -19.23 and a beta of 2.12.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Bitdeer Technologies Group by 3.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,358 shares of the company’s stock worth $636,000 after purchasing an additional 916 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Bitdeer Technologies Group by 14.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,600 shares of the company’s stock valued at $208,000 after purchasing an additional 1,200 shares during the last quarter. Wells Fargo & Company MN raised its position in Bitdeer Technologies Group by 56.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock valued at $93,000 after purchasing an additional 1,540 shares during the last quarter. Quarry LP bought a new position in Bitdeer Technologies Group during the 4th quarter valued at approximately $42,000. Finally, Stonebridge Financial Group LLC bought a new position in Bitdeer Technologies Group during the 4th quarter valued at approximately $65,000. Institutional investors 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.