Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) traded down 5.6% during mid-day trading on Tuesday . The stock traded as low as $12.79 and last traded at $12.75. 1,462,768 shares were traded during mid-day trading, a decline of 72% from the average session volume of 5,205,601 shares. The stock had previously closed at $13.51.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Wall Street Zen raised Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Cantor Fitzgerald boosted their target price on shares of Bitdeer Technologies Group from $21.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Needham & Company LLC boosted their target price on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, May 16th. B. Riley decreased their target price on shares of Bitdeer Technologies Group from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, July 10th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $20.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, June 16th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $21.00.
View Our Latest Research Report on BTDR
Bitdeer Technologies Group Trading Down 0.4%
The stock has a market capitalization of $1.53 billion, a PE ratio of -3.36 and a beta of 2.22. The firm has a 50 day moving average price of $13.26 and a 200 day moving average price of $13.27.
Institutional Investors Weigh In On Bitdeer Technologies Group
Institutional investors have recently bought and sold shares of the business. FengHe Fund Management Pte. Ltd. boosted its holdings in shares of 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 valued at $11,763,000 after purchasing an additional 853,300 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Bitdeer Technologies Group by 3,558.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock valued at $26,876,000 after acquiring an additional 1,206,361 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of Bitdeer Technologies Group by 29.7% in the 4th quarter. Vident Advisory LLC now owns 1,139,619 shares of the company's stock valued at $24,696,000 after acquiring an additional 260,649 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Bitdeer Technologies Group in the 4th quarter worth about $16,834,000. Finally, Capital Fund Management S.A. purchased a new stake in Bitdeer Technologies Group in the 1st quarter worth about $6,835,000. Hedge funds and other institutional investors own 22.25% of the company's stock.
About Bitdeer Technologies Group
(
Get Free Report)
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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