Bitdeer Technologies Group (NASDAQ:BTDR) Sees Unusually-High Trading Volume - Time to Buy?

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 3,003,642 shares were traded during trading, a decline of 2% from the previous session's volume of 3,051,298 shares.The stock last traded at $22.31 and had previously closed at $20.52.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. B. Riley boosted their price objective on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Cantor Fitzgerald reissued an "overweight" rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Benchmark increased their price target on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Northland Securities boosted their price objective on Bitdeer Technologies Group from $14.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Finally, HC Wainwright lifted their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $19.80.

Bitdeer Technologies Group Stock Up 14.8 %

The stock has a market cap of $2.64 billion, a P/E ratio of -45.31 and a beta of 2.27. The business's 50-day simple moving average is $12.78 and its two-hundred day simple moving average is $9.90.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new position in Bitdeer Technologies Group in the 3rd quarter worth about $275,000. Barclays PLC purchased a new position in Bitdeer Technologies Group during the third quarter valued at approximately $161,000. Geode Capital Management LLC increased its holdings in Bitdeer Technologies Group by 14.6% during the 3rd quarter. Geode Capital Management LLC now owns 368,564 shares of the company's stock worth $2,886,000 after acquiring an additional 46,968 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Bitdeer Technologies Group in the 3rd quarter worth approximately $66,000. Finally, Y Intercept Hong Kong Ltd boosted its holdings in Bitdeer Technologies Group by 96.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company's stock valued at $347,000 after purchasing an additional 21,798 shares during the period. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.