Bitdeer Technologies Group (NASDAQ:BTDR) Trading Down 4.3% – Should You Sell?

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) were down 4.3% on Wednesday . The company traded as low as $20.86 and last traded at $20.78. Approximately 1,477,419 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 7,664,382 shares. The stock had previously closed at $21.71.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BTDR shares. 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 report on Tuesday, December 17th. B. Riley lifted their price target on shares of 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 Capmk raised Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. HC Wainwright raised their price objective on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Benchmark increased their target price on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $21.00.

Bitdeer Technologies Group Trading Down 9.3 %

The stock has a market cap of $2.20 billion, a PE ratio of -37.74 and a beta of 2.09. The business’s 50-day moving average price is $18.21 and its 200-day moving average price is $11.64.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in Bitdeer Technologies Group during the 4th quarter worth about $308,000. Sanctuary Advisors LLC purchased a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth about $275,000. Barclays PLC acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $161,000. Geode Capital Management LLC increased its stake in shares of Bitdeer Technologies Group by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock valued at $2,886,000 after purchasing an additional 46,968 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Bitdeer Technologies Group in the 3rd quarter worth about $66,000. Institutional investors and hedge funds 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.