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

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price 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.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Rosenblatt Securities lifted their target price on Bitdeer Technologies Group from $9.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Alliance Global Partners assumed coverage on Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. B. Riley cut their target price on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Finally, HC Wainwright upped their price target on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $14.80.

Bitdeer Technologies Group Price Performance

The company has a market cap of $1.33 billion, a PE ratio of -22.85 and a beta of 1.92. The stock’s 50-day moving average is $8.63 and its 200 day moving average is $8.27.

Institutional Trading of Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently made changes to their positions in BTDR. Public Employees Retirement System of Ohio acquired a new position in shares of Bitdeer Technologies Group during the third quarter valued at about $66,000. Centiva Capital LP acquired a new position in Bitdeer Technologies Group during the 3rd quarter valued at approximately $91,000. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group in the third quarter worth $161,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Bitdeer Technologies Group in the third quarter worth $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Bitdeer Technologies Group during the third quarter worth $220,000. 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.