Bitdeer Technologies Group (NASDAQ:BTDR) Trading Down 5.2% – Time to Sell?

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) fell 5.2% on Tuesday . The company traded as low as $15.76 and last traded at $15.64. 1,636,587 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 6,529,557 shares. The stock had previously closed at $16.50.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Bitdeer Technologies Group in a research note on Monday, January 27th. They set an “outperform” rating and a $26.50 target price for the company. HC Wainwright boosted their price objective on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. 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 report on Friday, January 10th. Needham & Company LLC lifted their target price on Bitdeer Technologies Group from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Roth Mkm increased their price target on Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $22.23.

Bitdeer Technologies Group Stock Down 8.9 %

The company has a 50 day moving average of $19.61 and a two-hundred day moving average of $12.63. The firm has a market cap of $1.68 billion, a P/E ratio of -28.90 and a beta of 2.04.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several large investors have recently made changes to their positions in BTDR. Two Seas Capital LP acquired a new stake in Bitdeer Technologies Group during the fourth quarter valued at approximately $9,384,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Bitdeer Technologies Group by 118.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,254 shares of the company’s stock valued at $1,327,000 after buying an additional 33,182 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at $16,834,000. Vident Advisory LLC lifted its position in shares of Bitdeer Technologies Group by 29.7% during the 4th quarter. Vident Advisory LLC now owns 1,139,619 shares of the company’s stock valued at $24,696,000 after acquiring an additional 260,649 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth $2,771,000. 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.