Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – Still a Buy?

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) gapped up prior to trading on Wednesday . The stock had previously closed at $11.16, but opened at $11.57. Bitdeer Technologies Group shares last traded at $11.78, with a volume of 388,030 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently commented on BTDR shares. HC Wainwright lifted their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Alliance Global Partners started coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price objective on the stock. Roth Mkm raised their target price on shares of Bitdeer Technologies Group from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Rosenblatt Securities boosted their target price on shares of Bitdeer Technologies Group from $9.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $14.80.

Bitdeer Technologies Group Price Performance

The business’s fifty day simple moving average is $8.63 and its two-hundred day simple moving average is $8.27. The company has a market cap of $1.33 billion, a PE ratio of -22.85 and a beta of 1.92.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several institutional investors and hedge funds have recently modified their holdings of BTDR. Sanctuary Advisors LLC purchased a new position in Bitdeer Technologies Group during the third quarter worth approximately $275,000. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at approximately $161,000. Geode Capital Management LLC grew its stake in 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 acquiring an additional 46,968 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Bitdeer Technologies Group in the 3rd quarter worth $66,000. Finally, Y Intercept Hong Kong Ltd raised its position in Bitdeer Technologies Group by 96.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock worth $347,000 after acquiring an additional 21,798 shares during the period. Hedge funds and other institutional investors 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.