Bitdeer Technologies Group (NASDAQ:BTDR) Sets New 1-Year High – Here’s What Happened

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $14.52 and last traded at $14.25, with a volume of 4127830 shares traded. The stock had previously closed at $12.23.

Wall Street Analyst Weigh In

Several research firms have weighed in on BTDR. Rosenblatt Securities boosted their price target on Bitdeer Technologies Group from $9.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Roth Mkm lifted their target price on Bitdeer Technologies Group from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Finally, B. Riley reduced their target price on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, October 11th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $14.80.

Bitdeer Technologies Group Trading Up 20.6 %

The stock has a 50-day moving average price of $8.84 and a 200 day moving average price of $8.33. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -27.40 and a beta of 1.92.

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in shares of Bitdeer Technologies Group during the 1st quarter valued at approximately $431,000. Central Asset Investments & Management Holdings HK Ltd purchased a new position in Bitdeer Technologies Group during the second quarter valued at $272,000. Thomist Capital Management LP purchased a new position in Bitdeer Technologies Group during the second quarter valued at $1,156,000. XTX Topco Ltd purchased a new stake in shares of Bitdeer Technologies Group during the second quarter worth about $276,000. Finally, Symmetry Investments LP acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth about $432,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.