Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Up 5.2% – Time to Buy?

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) were up 5.2% during mid-day trading on Thursday . The company traded as high as $12.84 and last traded at $12.51. Approximately 322,406 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 2,275,755 shares. The stock had previously closed at $11.89.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BTDR shares. Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Benchmark reissued a “buy” rating and set a $16.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday. Roth Mkm upped their price objective on shares of Bitdeer Technologies Group from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Northland Securities raised their price target on shares of Bitdeer Technologies Group from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $14.80.

Bitdeer Technologies Group Stock Down 2.1 %

The stock has a fifty day moving average of $8.26 and a 200 day moving average of $8.09.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group in the third quarter valued at $161,000. Geode Capital Management LLC grew its holdings 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. Public Employees Retirement System of Ohio purchased a new position in Bitdeer Technologies Group during the 3rd quarter worth $66,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Bitdeer Technologies Group by 96.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock worth $347,000 after buying an additional 21,798 shares during the period. Finally, State Street Corp bought a new stake in shares of Bitdeer Technologies Group in the third quarter valued at about $1,510,000. 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.