Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – What’s Next?

Bitdeer Technologies Group (NASDAQ:BTDR) gapped up prior to trading 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 trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BTDR shares. HC Wainwright reiterated a “buy” rating and issued a $21.00 price target (down previously from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods started coverage on Bitdeer Technologies Group in a research report on Monday, January 27th. They issued an “outperform” rating and a $26.50 price target on the stock. Benchmark reduced their price target on Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Rosenblatt Securities reduced their price target on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Needham & Company LLC reduced their price target on Bitdeer Technologies Group from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $21.00.

Bitdeer Technologies Group Trading Down 5.4 %

The firm has a 50-day moving average of $15.05 and a 200 day moving average of $13.16. The company has a market cap of $1.12 billion, a P/E ratio of -19.23 and a beta of 2.12.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in Bitdeer Technologies Group by 281.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock worth $1,933,000 after buying an additional 182,110 shares during the period. FengHe Fund Management Pte. Ltd. acquired a new position in Bitdeer Technologies Group during the 4th quarter worth approximately $10,378,000. Mirabella Financial Services LLP acquired a new position in Bitdeer Technologies Group during the 3rd quarter worth approximately $5,872,000. Barclays PLC acquired a new position in Bitdeer Technologies Group during the 3rd quarter worth approximately $161,000. Finally, Geode Capital Management LLC raised its stake in Bitdeer Technologies Group by 14.6% during the 3rd quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock worth $2,886,000 after buying an additional 46,968 shares during the period. 22.25% of the stock is owned by institutional investors and hedge funds.

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.