Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up - Here's What Happened

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $7.60, but opened at $7.94. Bitdeer Technologies Group shares last traded at $8.57, with a volume of 956,296 shares.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Northland Securities boosted their price objective on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. HC Wainwright restated a "buy" rating and issued a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Benchmark lowered their target price on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Roth Mkm restated a "buy" rating and issued a $23.50 price target (down from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods began coverage on Bitdeer Technologies Group in a research report on Monday, January 27th. They set an "outperform" rating and a $26.50 price objective for the company. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $19.50.

Bitdeer Technologies Group Trading Up 1.2 %

The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -20.25 and a beta of 2.25. The stock's 50 day moving average is $9.89 and its two-hundred day moving average is $13.55.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BTDR. Stonebridge Financial Group LLC increased its stake in Bitdeer Technologies Group by 33.3% in the 1st quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company's stock valued at $35,000 after buying an additional 1,000 shares during the period. Quarry LP acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at approximately $42,000. SBI Securities Co. Ltd. purchased a new stake in Bitdeer Technologies Group during the fourth quarter worth $79,000. Wells Fargo & Company MN increased its holdings in Bitdeer Technologies Group by 56.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock valued at $93,000 after acquiring an additional 1,540 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Bitdeer Technologies Group in the 4th quarter valued at approximately $116,000. Institutional investors and hedge funds 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.