Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down - Should You Sell?

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $11.68, but opened at $10.97. Bitdeer Technologies Group shares last traded at $11.32, with a volume of 712,982 shares changing hands.

Analysts Set New Price Targets

BTDR has been the topic of several research reports. Northland Securities upped their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an "outperform" rating in a research report on Friday, January 10th. B. Riley upped their target price on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Needham & Company LLC cut their target price on Bitdeer Technologies Group from $22.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Benchmark cut their target price on Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $30.00 target price on shares of Bitdeer Technologies Group in a research report on Monday, February 24th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $21.18.

Bitdeer Technologies Group Trading Up 0.5 %

The firm has a 50-day simple moving average of $17.10 and a two-hundred day simple moving average of $13.00. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -21.15 and a beta of 2.12.

Remove Ads

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds have recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth about $42,000. Stonebridge Financial Group LLC purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth about $65,000. SBI Securities Co. Ltd. purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth about $79,000. Wells Fargo & Company MN boosted its stake in shares of Bitdeer Technologies Group by 56.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock worth $93,000 after acquiring an additional 1,540 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth about $116,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.