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

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $20.54, but opened at $19.80. Bitdeer Technologies Group shares last traded at $19.04, with a volume of 747,666 shares.

Wall Street Analyst Weigh In

Several research firms have weighed in on BTDR. HC Wainwright upped their price target on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Northland Securities increased their price target on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Roth Mkm increased their price target on Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. B. Riley increased their target price on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $21.00.

Bitdeer Technologies Group Trading Down 3.2 %

The stock has a market capitalization of $2.23 billion, a PE ratio of -38.09 and a beta of 2.09. The firm has a 50 day moving average of $18.41 and a two-hundred day moving average of $11.70.

Institutional Trading of Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in Bitdeer Technologies Group during the 3rd quarter worth approximately $66,000. Centiva Capital LP bought a new position in Bitdeer Technologies Group during the 3rd quarter worth $91,000. Barclays PLC bought a new position in shares of Bitdeer Technologies Group in 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, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Bitdeer Technologies Group in the third quarter valued at $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.