Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s share price rose 3.7% on Wednesday . The stock traded as high as $5.77 and last traded at $5.62. Approximately 121,100 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 1,798,693 shares. The stock had previously closed at $5.42.
Wall Street Analysts Forecast Growth
BTDR has been the topic of several research analyst reports. Rosenblatt Securities initiated coverage on shares of Bitdeer Technologies Group in a report on Tuesday, April 9th. They issued a "buy" rating and a $10.50 price target on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, March 26th. Benchmark reissued a "buy" rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a research note on Monday. Roth Mkm started coverage on Bitdeer Technologies Group in a research note on Thursday, February 29th. They issued a "buy" rating and a $14.00 target price on the stock. Finally, BTIG Research started coverage on Bitdeer Technologies Group in a research note on Wednesday, March 13th. They issued a "buy" rating and a $15.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $13.64.
Read Our Latest Stock Report on Bitdeer Technologies Group
Bitdeer Technologies Group Stock Up 2.2 %
The firm's 50-day simple moving average is $7.09 and its 200-day simple moving average is $6.54. The firm has a market capitalization of $620.29 million, a PE ratio of -13.10 and a beta of 1.70.
Institutional Trading of Bitdeer Technologies Group
Several institutional investors have recently added to or reduced their stakes in BTDR. EDBI Pte Ltd purchased a new stake in shares of Bitdeer Technologies Group during the third quarter worth about $3,444,000. Exchange Traded Concepts LLC raised its stake in Bitdeer Technologies Group by 83.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company's stock worth $5,265,000 after buying an additional 243,245 shares in the last quarter. Swiss National Bank bought a new position in Bitdeer Technologies Group in the third quarter worth about $604,000. CloudAlpha Capital Management Limited Hong Kong bought a new position in Bitdeer Technologies Group in the fourth quarter worth about $1,199,000. Finally, Barclays PLC bought a new position in Bitdeer Technologies Group in the third quarter worth about $49,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.
Bitdeer Technologies Group Company Profile
(
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Bitdeer Technologies Group operates as a technology company for the cryptocurrency mining community. It mines cryptocurrencies for its own account and serve the cryptocurrency mining community by providing cryptocurrency mining solution. The company handles various processes involved in mining, such as miner procurement, transport logistics, mining datacenter design and construction, mining machine management, and daily operations.
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