Bitdeer Technologies Group (NASDAQ:BTDR) Shares Up 10.8% – What’s Next?

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price rose 10.8% on Thursday . The company traded as high as $11.85 and last traded at $11.36. Approximately 2,224,937 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 7,102,242 shares. The stock had previously closed at $10.25.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Roth Mkm restated a “buy” rating and set a $23.50 price objective (down previously from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday. Needham & Company LLC decreased their target price on Bitdeer Technologies Group from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday. 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 research report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $21.00 target price (down previously from $22.00) on shares of Bitdeer Technologies Group 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’s stock. According to MarketBeat.com, Bitdeer Technologies Group has an average rating of “Buy” and an average target price of $21.18.

Bitdeer Technologies Group Stock Up 7.9 %

The firm’s 50-day simple moving average is $18.60 and its 200-day simple moving average is $12.79. The firm has a market capitalization of $1.24 billion, a P/E ratio of -21.28 and a beta of 2.04.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Bitdeer Technologies Group by 281.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock valued at $1,933,000 after purchasing an additional 182,110 shares during the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in Bitdeer Technologies Group during the fourth quarter valued at approximately $10,378,000. Mirabella Financial Services LLP purchased a new position in shares of Bitdeer Technologies Group during the third quarter worth approximately $5,872,000. Barclays PLC bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $161,000. Finally, Geode Capital Management LLC boosted 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. Hedge funds and other 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.