Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up - What's Next?

Key Points

• Bitdeer Technologies Group's shares gapped up from a previous close of $24.02 to an opening price of $25.76, currently trading at $25.02 with a volume of over 1.5 million shares.
• The stock has received favorable analyst ratings, maintaining a consensus average rating of "Moderate Buy" and a target price of $27.58, with twelve analysts recommending buys and one issuing a sell rating.
• Recent activity amongst institutional investors saw Main Management ETF Advisors and Stonebridge Financial Group increase their holdings in Bitdeer Technologies Group, indicating growing interest in the stock.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $24.02, but opened at $25.76. Bitdeer Technologies Group shares last traded at $25.02, with a volume of 1,505,488 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently commented on BTDR shares. B. Riley reiterated a "buy" rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. BTIG Research increased their price target on shares of Bitdeer Technologies Group from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday, October 14th. Benchmark restated a "buy" rating on shares of Bitdeer Technologies Group in a research report on Monday. Jones Trading initiated coverage on Bitdeer Technologies Group in a research report on Monday, October 6th. They set a "buy" rating and a $32.00 price target for the company. Finally, Wall Street Zen lowered Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.58.

Bitdeer Technologies Group Trading Up 7.4%

The business has a fifty day moving average price of $16.21 and a 200 day moving average price of $13.54. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 1.03. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of -5.50 and a beta of 2.25.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several large investors have recently made changes to their positions in BTDR. Main Management ETF Advisors LLC boosted its holdings in Bitdeer Technologies Group by 1.6% in the 2nd quarter. Main Management ETF Advisors LLC now owns 57,153 shares of the company's stock worth $656,000 after acquiring an additional 924 shares during the period. Stonebridge Financial Group LLC boosted its stake in shares of Bitdeer Technologies Group by 33.3% in the first quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company's stock valued at $35,000 after purchasing an additional 1,000 shares during the period. Advisors Asset Management Inc. grew its holdings in Bitdeer Technologies Group by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company's stock valued at $30,000 after purchasing an additional 1,044 shares in the last quarter. Amalgamated Bank purchased a new stake in Bitdeer Technologies Group during the 2nd quarter worth $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Bitdeer Technologies Group in the 1st quarter worth $55,000. Institutional investors and hedge funds 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.

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