Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $12.91, but opened at $12.60. Bitdeer Technologies Group shares last traded at $12.79, with a volume of 1,069,383 shares changing hands.
Analyst Ratings Changes
BTDR has been the topic of a number of research reports. Wall Street Zen upgraded Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Rosenblatt Securities lifted their target price on Bitdeer Technologies Group from $12.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Needham & Company LLC boosted their price target on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Benchmark reaffirmed a "buy" rating and set a $24.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, May 12th. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $23.50 price target (down previously from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $19.60.
Get Our Latest Report on BTDR
Bitdeer Technologies Group Stock Performance
The company has a 50-day moving average price of $11.06 and a 200-day moving average price of $14.38. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -24.29 and a beta of 2.32.
Institutional Trading of Bitdeer Technologies Group
Hedge funds and other institutional investors have recently made changes to their positions in the company. Yong Rong HK Asset Management Ltd purchased a new stake in Bitdeer Technologies Group in the fourth quarter valued at approximately $65,010,000. Trivest Advisors Ltd purchased a new stake in Bitdeer Technologies Group in the 4th quarter valued at $48,481,000. Van ECK Associates Corp acquired a new stake in Bitdeer Technologies Group during the 4th quarter worth $29,125,000. Renaissance Technologies LLC boosted its stake in Bitdeer Technologies Group by 3,558.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock worth $26,876,000 after purchasing an additional 1,206,361 shares during the period. Finally, FengHe Fund Management Pte. Ltd. boosted its stake in Bitdeer Technologies Group by 178.2% during the 1st quarter. FengHe Fund Management Pte. Ltd. now owns 1,332,200 shares of the company's stock worth $11,763,000 after purchasing an additional 853,300 shares during the period. Institutional investors and hedge funds own 22.25% of the company's stock.
Bitdeer Technologies Group Company Profile
(
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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.
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