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

Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $9.48, but opened at $9.99. Bitdeer Technologies Group shares last traded at $10.01, with a volume of 292,200 shares.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BTDR shares. Rosenblatt Securities reduced their price objective on Bitdeer Technologies Group from $30.00 to $25.00 and set a "buy" rating for the company in a report on Monday, March 17th. Roth Mkm reissued a "buy" rating and set a $23.50 price target (down previously from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Benchmark dropped their price target on Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods assumed coverage on Bitdeer Technologies Group in a research report on Monday, January 27th. They set an "outperform" rating and a $26.50 price target for the company. Finally, Northland Securities raised their price target on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Ten equities research 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, the stock has a consensus rating of "Buy" and an average target price of $21.00.

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Bitdeer Technologies Group Price Performance

The firm has a market cap of $1.12 billion, a PE ratio of -19.25 and a beta of 2.12. The stock has a 50-day moving average price of $14.88 and a 200 day moving average price of $13.29.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in shares of Bitdeer Technologies Group by 281.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company's stock valued at $1,933,000 after purchasing an additional 182,110 shares during the period. FengHe Fund Management Pte. Ltd. acquired a new position in Bitdeer Technologies Group in the fourth quarter valued at $10,378,000. Mirabella Financial Services LLP acquired a new position in Bitdeer Technologies Group in the third quarter valued at $5,872,000. Barclays PLC acquired a new position in Bitdeer Technologies Group in the third quarter valued at $161,000. Finally, Geode Capital Management LLC boosted its holdings in Bitdeer Technologies Group by 14.6% in the third quarter. Geode Capital Management LLC now owns 368,564 shares of the company's stock valued at $2,886,000 after acquiring an additional 46,968 shares during the last quarter. 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.