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

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) gapped up prior to trading on Wednesday . The stock had previously closed at $9.26, but opened at $10.03. Bitdeer Technologies Group shares last traded at $10.30, with a volume of 3,517,370 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BTDR shares. B. Riley increased their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Roth Mkm reaffirmed a “buy” rating and set a $23.50 price target (down previously from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday. Keefe, Bruyette & Woods initiated coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They set an “outperform” rating and a $26.50 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 target price on shares of Bitdeer Technologies Group in a report on Monday. Finally, Benchmark decreased their price objective on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday. Eleven research 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, the company presently has a consensus rating of “Buy” and a consensus target price of $21.18.

Bitdeer Technologies Group Trading Up 11.3 %

The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -19.86 and a beta of 2.04. The stock has a 50-day moving average of $18.78 and a two-hundred day moving average of $12.81.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors have recently made changes to their positions in the company. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at about $65,010,000. Trivest Advisors Ltd acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at about $48,481,000. Van ECK Associates Corp acquired a new position in Bitdeer Technologies Group in the fourth quarter worth about $29,125,000. Renaissance Technologies LLC grew its stake in shares of Bitdeer Technologies Group by 3,558.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company’s stock valued at $26,876,000 after purchasing an additional 1,206,361 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $16,834,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.