Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) shares traded down 10.8% during mid-day trading on Tuesday . The company traded as low as $20.55 and last traded at $20.65. 8,434,048 shares were traded during trading, an increase of 189% from the average session volume of 2,920,510 shares. The stock had previously closed at $23.14.
Analyst Upgrades and Downgrades
A number of equities analysts have 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. Rosenblatt Securities boosted their target price on shares of Bitdeer Technologies Group from $17.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. B. Riley decreased their target price on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, October 11th. Cantor Fitzgerald restated 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, Alliance Global Partners initiated coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, October 8th. They set a "buy" rating and a $14.00 target price on the stock. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $18.60.
Get Our Latest Research Report on BTDR
Bitdeer Technologies Group Trading Down 8.3 %
The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -40.81 and a beta of 2.27. The firm has a 50 day moving average price of $11.79 and a 200-day moving average price of $9.54.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in BTDR. Mirabella Financial Services LLP acquired a new position in Bitdeer Technologies Group in the 3rd quarter valued at about $5,872,000. D1 Capital Partners L.P. purchased a new stake in Bitdeer Technologies Group in the 2nd quarter valued at about $5,386,000. Marshall Wace LLP purchased a new stake in Bitdeer Technologies Group in the 2nd quarter valued at about $5,074,000. Point72 Asset Management L.P. purchased a new stake in Bitdeer Technologies Group in the 2nd quarter valued at about $4,617,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Bitdeer Technologies Group in the 2nd quarter valued at about $4,510,000. Institutional investors and hedge funds own 22.25% of the company's stock.
About Bitdeer Technologies Group
(
Get Free Report)
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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