Bitdeer Technologies Group (NASDAQ:BTDR) Shares Up 11.8% - Here's What Happened

Shares of Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) were up 11.8% on Thursday . The stock traded as high as $25.18 and last traded at $24.22. Approximately 3,491,817 shares changed hands during mid-day trading, an increase of 11% from the average daily volume of 3,140,711 shares. The stock had previously closed at $21.67.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BTDR shares. 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. B. Riley lifted their price objective on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Northland Securities boosted their target price on shares of Bitdeer Technologies Group from $14.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Benchmark increased their target price on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Finally, Roth Mkm boosted their price target on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a "buy" rating in a research report on Tuesday, December 17th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $19.80.

Bitdeer Technologies Group Stock Up 5.5 %

The business's fifty day moving average is $14.85 and its two-hundred day moving average is $10.60. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -43.98 and a beta of 2.27.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in Bitdeer Technologies Group in the third quarter valued at about $66,000. Centiva Capital LP bought a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $91,000. Barclays PLC acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Bitdeer Technologies Group during the third quarter worth approximately $220,000. Institutional investors 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.