Bitdeer Technologies Group (NASDAQ:BTDR) Trading Down 4.1% - Time to Sell?

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) shares were down 4.1% on Tuesday . The company traded as low as $17.05 and last traded at $17.04. Approximately 1,628,206 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 7,494,901 shares. The stock had previously closed at $17.77.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BTDR shares. Northland Securities raised their price objective on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an "outperform" rating in a research report on Friday, January 10th. Roth Mkm raised their price target on Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a "buy" rating in a report on Tuesday, December 17th. Keefe, Bruyette & Woods initiated coverage on Bitdeer Technologies Group in a research note on Monday, January 27th. They issued an "outperform" rating and a $26.50 price objective for the company. B. Riley lifted their target price on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Finally, HC Wainwright upped their price target on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Bitdeer Technologies Group currently has a consensus rating of "Buy" and an average target price of $22.23.

Bitdeer Technologies Group Stock Up 2.5 %

The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -32.04 and a beta of 2.04. The business's 50-day moving average is $19.77 and its two-hundred day moving average is $12.25.

Hedge Funds Weigh In On Bitdeer Technologies Group

Institutional investors have recently modified their holdings of the business. Yong Rong HK Asset Management Ltd acquired a new position in Bitdeer Technologies Group during the 4th quarter worth approximately $65,010,000. Van ECK Associates Corp purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at $29,125,000. Mirabella Financial Services LLP acquired a new stake in Bitdeer Technologies Group during the 3rd quarter worth $5,872,000. FengHe Fund Management Pte. Ltd. purchased a new stake in Bitdeer Technologies Group in the fourth quarter valued at $10,378,000. Finally, Millennium Management LLC boosted its stake in Bitdeer Technologies Group by 901.0% in the second quarter. Millennium Management LLC now owns 410,359 shares of the company's stock valued at $4,210,000 after acquiring an additional 369,363 shares in the last quarter. Institutional investors and hedge funds 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.