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

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $11.09, but opened at $10.75. Bitdeer Technologies Group shares last traded at $9.91, with a volume of 3,258,912 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BTDR shares. B. Riley cut their price objective 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Needham & Company LLC reissued a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Thursday, September 26th. Alliance Global Partners assumed coverage on Bitdeer Technologies Group in a research report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price target for the company. Finally, Benchmark reissued a “buy” rating and set a $16.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bitdeer Technologies Group presently has a consensus rating of “Buy” and an average target price of $13.70.

Bitdeer Technologies Group Trading Up 3.8 %

The stock has a market cap of $1.29 billion, a PE ratio of -49.68 and a beta of 1.92. The company has a fifty day moving average of $7.92 and a 200-day moving average of $7.98.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at $66,000. Centiva Capital LP acquired a new position in Bitdeer Technologies Group in the 3rd quarter valued at about $91,000. Barclays PLC acquired a new position in shares of Bitdeer Technologies Group in the third quarter valued at approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Bitdeer Technologies Group during the 3rd quarter worth $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Bitdeer Technologies Group in the 3rd quarter valued at approximately $220,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.