Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up on Analyst Upgrade

Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) gapped up prior to trading on Friday after Rosenblatt Securities raised their price target on the stock from $17.00 to $22.00. The stock had previously closed at $16.98, but opened at $18.49. Rosenblatt Securities currently has a buy rating on the stock. Bitdeer Technologies Group shares last traded at $19.63, with a volume of 2,870,839 shares traded.

A number of other research analysts also recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, November 19th. Benchmark restated a "buy" rating and issued a $16.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. B. Riley reduced their price objective on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, October 11th. Cantor Fitzgerald reiterated an "overweight" rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Finally, Roth Mkm raised their price target on Bitdeer Technologies Group from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bitdeer Technologies Group presently has an average rating of "Buy" and a consensus price target of $15.90.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently modified their holdings of BTDR. Public Employees Retirement System of Ohio acquired a new stake in shares of Bitdeer Technologies Group during the third quarter worth $66,000. Centiva Capital LP bought a new position in Bitdeer Technologies Group during the 3rd quarter worth about $91,000. Barclays PLC bought a new position in Bitdeer Technologies Group during the 3rd quarter worth about $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $169,000. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of Bitdeer Technologies Group by 96.8% in the third 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 in the last quarter. Institutional investors and hedge funds own 22.25% of the company's stock.

Bitdeer Technologies Group Price Performance

The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -40.40 and a beta of 2.27. The firm has a 50-day moving average price of $9.87 and a two-hundred day moving average price of $8.77.

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.