Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) traded down 9.8% during mid-day trading on Tuesday . The stock traded as low as $20.64 and last traded at $21.00. 3,353,556 shares were traded during trading, a decline of 53% from the average session volume of 7,104,354 shares. The stock had previously closed at $23.28.
Wall Street Analyst Weigh In
Several research firms recently commented on BTDR. Northland Securities boosted their price objective on shares of Bitdeer Technologies Group from $14.00 to $20.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Needham & Company LLC reiterated a "buy" rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Roth Mkm boosted their price target on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a "buy" rating in a research report on Tuesday, December 17th. B. Riley increased their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Ten research 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 stock has an average rating of "Buy" and an average target price of $19.80.
Read Our Latest Research Report on BTDR
Bitdeer Technologies Group Stock Performance
The firm has a market cap of $2.21 billion, a P/E ratio of -37.90 and a beta of 2.09. The firm's fifty day moving average is $15.81 and its 200 day moving average is $10.92.
Hedge Funds Weigh In On Bitdeer Technologies Group
Large investors have recently made changes to their positions in the company. Mirabella Financial Services LLP bought a new position in Bitdeer Technologies Group during the 3rd quarter worth $5,872,000. D1 Capital Partners L.P. acquired a new stake in Bitdeer Technologies Group in the 2nd quarter worth about $5,386,000. Marshall Wace LLP bought a new stake in Bitdeer Technologies Group in the 2nd quarter valued at about $5,074,000. Point72 Asset Management L.P. bought a new stake in Bitdeer Technologies Group in the 2nd quarter valued at about $4,617,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth approximately $4,510,000. Institutional investors 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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