Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up - What's Next?

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $9.26, but opened at $10.03. Bitdeer Technologies Group shares last traded at $10.30, with a volume of 3,517,370 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Northland Securities raised their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. Roth Mkm reissued a "buy" rating and set a $23.50 price objective (down from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday. Rosenblatt Securities reaffirmed a "buy" rating and issued a $30.00 target price on shares of Bitdeer Technologies Group in a research report on Monday, February 24th. HC Wainwright reaffirmed a "buy" rating and set a $21.00 target price (down previously from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday. Finally, B. Riley lifted their price target on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Bitdeer Technologies Group currently has an average rating of "Buy" and a consensus target price of $21.18.

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Bitdeer Technologies Group Stock Up 13.0 %

The business's fifty day moving average is $18.29 and its two-hundred day moving average is $12.85. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -23.67 and a beta of 2.04.

Hedge Funds Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $42,000. Stonebridge Financial Group LLC purchased a new stake in Bitdeer Technologies Group during the 4th quarter worth about $65,000. SBI Securities Co. Ltd. acquired a new stake in Bitdeer Technologies Group in the 4th quarter valued at about $79,000. Wells Fargo & Company MN raised its position in Bitdeer Technologies Group by 56.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock valued at $93,000 after purchasing an additional 1,540 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $116,000. Hedge funds and other institutional investors 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.