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

Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) saw strong trading volume on Friday . 5,283,339 shares were traded during trading, an increase of 128% from the previous session's volume of 2,321,568 shares.The stock last traded at $11.39 and had previously closed at $11.19.

Wall Street Analysts Forecast Growth

BTDR has been the subject of a number of research reports. Roth Mkm increased their price target on shares of Bitdeer Technologies Group from $14.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday. Rosenblatt Securities increased their target price on shares of Bitdeer Technologies Group from $9.00 to $17.00 and gave the company a "buy" rating in a research note on Tuesday. Northland Securities boosted their price target on Bitdeer Technologies Group from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Finally, B. Riley lowered their price objective on Bitdeer Technologies Group from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, October 11th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Bitdeer Technologies Group currently has an average rating of "Buy" and an average target price of $14.80.

Bitdeer Technologies Group Stock Up 3.1 %

The business has a 50-day simple moving average of $8.44 and a two-hundred day simple moving average of $8.17. The stock has a market capitalization of $1.29 billion, a P/E ratio of -22.19 and a beta of 1.92.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Bitdeer Technologies Group in the third quarter valued at $66,000. Centiva Capital LP acquired a new stake in Bitdeer Technologies Group in the 3rd quarter valued at about $91,000. Barclays PLC acquired a new position in shares of Bitdeer Technologies Group during the third quarter worth approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Bitdeer Technologies Group during the third quarter valued at approximately $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Bitdeer Technologies Group in the third quarter valued at approximately $220,000. 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.