Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – Here’s What Happened

Bitdeer Technologies Group (NASDAQ:BTDR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $9.48, but opened at $9.99. Bitdeer Technologies Group shares last traded at $10.01, with a volume of 292,200 shares traded.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Rosenblatt Securities dropped their price target on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday. 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, February 26th. Needham & Company LLC lowered their target price on Bitdeer Technologies Group from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday. Northland Securities boosted their price target on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, B. Riley boosted their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $21.00.

Bitdeer Technologies Group Stock Performance

The stock has a market cap of $1.13 billion, a P/E ratio of -19.34 and a beta of 2.12. The stock has a fifty day simple moving average of $15.38 and a 200-day simple moving average of $13.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Bitdeer Technologies Group by 281.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock valued at $1,933,000 after buying an additional 182,110 shares in the last quarter. FengHe Fund Management Pte. Ltd. bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $10,378,000. Mirabella Financial Services LLP bought a new stake in Bitdeer Technologies Group during the 3rd quarter worth $5,872,000. Barclays PLC bought a new stake in Bitdeer Technologies Group during the 3rd quarter worth approximately $161,000. Finally, Geode Capital Management LLC grew its stake in shares of Bitdeer Technologies Group by 14.6% in the third quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock worth $2,886,000 after purchasing an additional 46,968 shares during the last quarter. 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.