Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up - Should You Buy?

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $10.60, but opened at $11.30. Bitdeer Technologies Group shares last traded at $10.88, with a volume of 814,352 shares traded.

Analysts Set New Price Targets

BTDR has been the topic of several recent research reports. Northland Securities assumed coverage on Bitdeer Technologies Group in a report on Wednesday, October 9th. They set an "outperform" rating and a $13.00 price objective on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Northland Capmk upgraded Bitdeer Technologies Group to a "strong-buy" rating in a report on Wednesday, October 9th. HC Wainwright reduced their price objective on Bitdeer Technologies Group from $20.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, August 13th. Finally, Alliance Global Partners started coverage on Bitdeer Technologies Group in a research note on Tuesday, October 8th. They issued a "buy" rating and a $14.00 price target for the company. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $13.70.

Bitdeer Technologies Group Trading Up 1.3 %

The stock's 50-day simple moving average is $7.71 and its 200-day simple moving average is $7.89. The firm has a market capitalization of $1.20 billion, a P/E ratio of -58.37 and a beta of 1.92.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.06). Bitdeer Technologies Group had a negative return on equity of 2.56% and a negative net margin of 5.69%. The business had revenue of $99.23 million during the quarter, compared to the consensus estimate of $110.79 million. On average, equities research analysts expect that Bitdeer Technologies Group will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently bought and sold shares of BTDR. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Bitdeer Technologies Group in the third quarter worth $169,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Bitdeer Technologies Group during the 3rd quarter valued at approximately $220,000. Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Bitdeer Technologies Group in the 2nd quarter worth about $272,000. XTX Topco Ltd purchased a new position in Bitdeer Technologies Group in the second quarter worth about $276,000. Finally, Virtu Financial LLC bought a new position in shares of Bitdeer Technologies Group during the first quarter valued at $431,000. Hedge funds and other institutional investors own 22.25% of the company's stock.

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.