Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down – Time to Sell?

Bitdeer Technologies Group (NASDAQ:BTDR) gapped down prior to trading on Thursday . The stock had previously closed at $23.56, but opened at $22.90. Bitdeer Technologies Group shares last traded at $24.76, with a volume of 1,874,055 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BTDR shares. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Roth Mkm upped their price objective on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Rosenblatt Securities lifted their target price on shares of Bitdeer Technologies Group from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. HC Wainwright upped their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Northland Securities increased their price target on Bitdeer Technologies Group from $14.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Bitdeer Technologies Group has an average rating of “Buy” and an average price target of $19.80.

Bitdeer Technologies Group Stock Performance

The firm has a 50 day moving average price of $13.40 and a two-hundred day moving average price of $10.11. The company has a market cap of $2.67 billion, a P/E ratio of -45.83 and a beta of 2.27.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at approximately $66,000. Centiva Capital LP purchased a new stake in shares of Bitdeer Technologies Group during the third quarter worth $91,000. Barclays PLC purchased a new stake in shares of Bitdeer Technologies Group during the third quarter worth $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Bitdeer Technologies Group in the third quarter worth $169,000. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Bitdeer Technologies Group in the second quarter valued at $272,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.