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 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 Ratings Changes

A number of analysts recently weighed in on BTDR shares. Alliance Global Partners began coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They set a “buy” rating and a $14.00 target price on the stock. Rosenblatt Securities upped their price target on shares of Bitdeer Technologies Group from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Roth Mkm lifted their price objective on Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Northland Securities upped their target price on Bitdeer Technologies Group from $14.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, HC Wainwright raised their price target on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $19.80.

Bitdeer Technologies Group Trading Down 2.8 %

The stock has a market capitalization of $2.43 billion, a PE ratio of -41.67 and a beta of 2.27. The business has a fifty day moving average price of $14.57 and a 200-day moving average price of $10.52.

Institutional Trading of Bitdeer Technologies Group

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