Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s share price dropped 3.6% during mid-day trading on Thursday . The stock traded as low as $20.02 and last traded at $20.08. Approximately 634,055 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 7,622,013 shares. The stock had previously closed at $20.84.
Analysts Set New Price Targets
BTDR has been the topic of a number of recent analyst reports. Roth Mkm increased their price target on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a "buy" rating in a report on Tuesday, December 17th. Alliance Global Partners assumed coverage on Bitdeer Technologies Group in a research report on Tuesday, October 8th. They issued a "buy" rating and a $14.00 price objective on the stock. HC Wainwright lifted their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Northland Securities boosted their price target 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. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $22.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday. Ten investment 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, the company presently has a consensus rating of "Buy" and a consensus target price of $21.00.
Get Our Latest Stock Report on Bitdeer Technologies Group
Bitdeer Technologies Group Stock Down 3.0 %
The company has a market cap of $2.34 billion, a P/E ratio of -40.19 and a beta of 2.09. The business has a fifty day simple moving average of $17.57 and a two-hundred day simple moving average of $11.44.
Hedge Funds Weigh In On Bitdeer Technologies Group
Several institutional investors have recently made changes to their positions in the business. Mirabella Financial Services LLP purchased a new stake in Bitdeer Technologies Group during the third quarter valued at approximately $5,872,000. D1 Capital Partners L.P. bought a new stake in shares of Bitdeer Technologies Group during the 2nd quarter valued at $5,386,000. Marshall Wace LLP purchased a new stake in shares of Bitdeer Technologies Group in the 2nd quarter worth $5,074,000. Point72 Asset Management L.P. bought a new position in Bitdeer Technologies Group in the 2nd quarter worth $4,617,000. Finally, Point72 Hong Kong Ltd bought a new position in Bitdeer Technologies Group in the 2nd quarter worth $4,510,000. Institutional investors own 22.25% of the company's stock.
Bitdeer Technologies Group Company Profile
(
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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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