Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up - Here's What Happened

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $7.60, but opened at $7.94. Bitdeer Technologies Group shares last traded at $8.57, with a volume of 956,296 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BTDR shares. Roth Mkm restated a "buy" rating and set a $23.50 price objective (down previously from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Northland Securities increased their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an "outperform" rating in a report on Friday, January 10th. Rosenblatt Securities dropped their target price on Bitdeer Technologies Group from $25.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Benchmark decreased their price target on Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Finally, HC Wainwright reissued a "buy" rating and issued a $21.00 price objective (down previously from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Ten 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, the stock presently has an average rating of "Buy" and a consensus price target of $19.50.

Bitdeer Technologies Group Price Performance

The business has a 50-day moving average of $10.38 and a 200-day moving average of $13.51. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -18.26 and a beta of 2.25.

Institutional Trading of Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently bought and sold shares of BTDR. Quarry LP bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth $42,000. Stonebridge Financial Group LLC acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $65,000. SBI Securities Co. Ltd. bought a new stake in Bitdeer Technologies Group in the fourth quarter valued at $79,000. Wells Fargo & Company MN grew 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 during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth approximately $116,000. 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.

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