Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up After Analyst Upgrade

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) gapped up prior to trading on Thursday after B. Riley raised their price target on the stock from $15.00 to $24.00. The stock had previously closed at $19.40, but opened at $20.45. B. Riley currently has a buy rating on the stock. Bitdeer Technologies Group shares last traded at $19.89, with a volume of 2,012,335 shares trading hands.

BTDR has been the topic of several other reports. Roth Mkm boosted 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 note on Tuesday. Benchmark boosted their price target on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Rosenblatt Securities boosted their target price on Bitdeer Technologies Group from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Northland Capmk raised Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $19.80.

Institutional Trading of Bitdeer Technologies Group

Institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at $66,000. Centiva Capital LP acquired a new position in Bitdeer Technologies Group in the third quarter valued at about $91,000. Barclays PLC bought a new stake in Bitdeer Technologies Group during the third quarter worth about $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Bitdeer Technologies Group during the third quarter worth about $169,000. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new position in Bitdeer Technologies Group in the 2nd quarter valued at about $272,000. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Trading Up 13.0 %

The firm’s 50-day moving average price is $12.53 and its 200 day moving average price is $9.77. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -39.40 and a beta of 2.27.

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.