Bitdeer Technologies Group (NASDAQ:BTDR) Trading Up 6.9% - Here's What Happened

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s stock price was up 6.9% during trading on Monday . The company traded as high as $10.78 and last traded at $10.70. Approximately 511,012 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 4,110,868 shares. The stock had previously closed at $10.01.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BTDR shares. HC Wainwright restated a "buy" rating and issued a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Rosenblatt Securities dropped their target price on Bitdeer Technologies Group from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Benchmark lowered their price objective on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods assumed coverage on shares of Bitdeer Technologies Group in a report on Monday, January 27th. They issued an "outperform" rating and a $26.50 price objective for the company. Finally, 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 report on Thursday, December 19th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Bitdeer Technologies Group has an average rating of "Buy" and an average target price of $21.00.

Remove Ads

Bitdeer Technologies Group Trading Down 7.6 %

The firm has a market cap of $1.03 billion, a PE ratio of -17.72 and a beta of 2.12. The business has a fifty day moving average price of $14.16 and a 200 day moving average price of $13.32.

Institutional Trading of Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTDR. Charles Schwab Investment Management Inc. grew its position 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 buying an additional 182,110 shares during the last quarter. FengHe Fund Management Pte. Ltd. purchased a new position in shares of Bitdeer Technologies Group during the fourth quarter worth about $10,378,000. Barclays PLC acquired a new stake in shares of Bitdeer Technologies Group during the third quarter worth about $161,000. Geode Capital Management LLC lifted its holdings in shares of Bitdeer Technologies Group by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 368,564 shares of the company's stock valued at $2,886,000 after purchasing an additional 46,968 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $220,000. 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.