Bitdeer Technologies Group (NASDAQ:BTDR) Shares Down 7% - Time to Sell?

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) shares were down 7% during trading on Tuesday . The stock traded as low as $16.02 and last traded at $16.20. Approximately 2,912,180 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 6,928,404 shares. The stock had previously closed at $17.41.

Analyst Upgrades and Downgrades

Several analysts have commented on BTDR shares. B. Riley lifted their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Northland Securities lifted their price target on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an "outperform" rating in a report on Friday, January 10th. Benchmark lifted their price target on Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a "buy" rating in a report on Monday, December 9th. Keefe, Bruyette & Woods began coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They issued an "outperform" rating and a $26.50 price target for the company. Finally, Roth Mkm boosted their target price on Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a "buy" rating in a report on Tuesday, December 17th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $22.23.

Bitdeer Technologies Group Trading Down 0.5 %

The firm has a 50-day moving average of $19.77 and a 200 day moving average of $12.47. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -31.73 and a beta of 2.04.

Hedge Funds Weigh In On Bitdeer Technologies Group

Institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $42,000. Stonebridge Financial Group LLC acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $65,000. Public Employees Retirement System of Ohio acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $66,000. SBI Securities Co. Ltd. acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $79,000. Finally, Centiva Capital LP acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $91,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Bitdeer Technologies Group Company Profile

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.