Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s share price traded up 5.7% during trading on Wednesday after Roth Mkm raised their price target on the stock from $15.00 to $29.00. Roth Mkm currently has a buy rating on the stock. Bitdeer Technologies Group traded as high as $22.60 and last traded at $22.44. 4,300,233 shares changed hands during trading, an increase of 45% from the average session volume of 2,966,461 shares. The stock had previously closed at $21.22.
Several other research analysts have also weighed in on the stock. HC Wainwright boosted their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Northland Capmk upgraded Bitdeer Technologies Group to a "strong-buy" rating in a research note on Wednesday, October 9th. Rosenblatt Securities lifted their price target on Bitdeer Technologies Group from $17.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Finally, Benchmark upped their price objective on Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a "buy" rating in a report on Monday, December 9th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Bitdeer Technologies Group has a consensus rating of "Buy" and an average target price of $18.60.
Get Our Latest Analysis on Bitdeer Technologies Group
Institutional Investors Weigh In On Bitdeer Technologies Group
A number of institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Bitdeer Technologies Group by 281.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company's stock valued at $1,933,000 after purchasing an additional 182,110 shares during the last quarter. Millennium Management LLC lifted its holdings 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 buying an additional 369,363 shares during the period. Mirabella Financial Services LLP bought a new stake in Bitdeer Technologies Group during the third quarter valued at $5,872,000. Quadrature Capital Ltd acquired a new stake in Bitdeer Technologies Group during the 3rd quarter worth about $285,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Bitdeer Technologies Group in the 2nd quarter worth about $4,510,000. Institutional investors own 22.25% of the company's stock.
Bitdeer Technologies Group Stock Performance
The business has a 50 day moving average price of $11.79 and a 200-day moving average price of $9.54. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -37.31 and a beta of 2.27.
Bitdeer Technologies Group Company Profile
(
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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