Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up - Time to Buy?

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $14.01, but opened at $14.50. Bitdeer Technologies Group shares last traded at $14.13, with a volume of 925,224 shares changing hands.

Analyst Ratings Changes

Several research analysts have weighed in on BTDR shares. HC Wainwright reiterated a "buy" rating and issued a $21.00 price objective (down previously from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. B. Riley boosted their price target on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Benchmark reaffirmed a "buy" rating and issued a $24.00 price target on shares of Bitdeer Technologies Group in a research note on Monday, May 12th. Rosenblatt Securities lifted their price objective 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. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $23.50 target price (down from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. One research 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's stock. According to MarketBeat.com, Bitdeer Technologies Group has an average rating of "Buy" and a consensus price target of $19.60.

Bitdeer Technologies Group Stock Performance

The company has a market cap of $1.56 billion, a P/E ratio of -26.82 and a beta of 2.32. The firm has a 50 day moving average price of $11.44 and a 200-day moving average price of $14.46.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BTDR. Goldman Sachs Group Inc. lifted its position in shares of Bitdeer Technologies Group by 167.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company's stock worth $4,265,000 after purchasing an additional 302,548 shares during the last quarter. Scientech Research LLC boosted its holdings in Bitdeer Technologies Group by 90.3% in the 1st quarter. Scientech Research LLC now owns 86,584 shares of the company's stock valued at $765,000 after purchasing an additional 41,078 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Bitdeer Technologies Group in the 1st quarter worth $1,168,000. Graham Capital Management L.P. bought a new position in shares of Bitdeer Technologies Group during the 1st quarter worth about $551,000. Finally, Harvest Portfolios Group Inc. increased its holdings in shares of Bitdeer Technologies Group by 118.6% during the 1st quarter. Harvest Portfolios Group Inc. now owns 36,578 shares of the company's stock worth $323,000 after purchasing an additional 19,846 shares during the period. 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.