Bitdeer Technologies Group (NASDAQ:BTDR) Trading Up 9.5% - Should You Buy?

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) was up 9.5% on Wednesday . The stock traded as high as $20.90 and last traded at $20.84. Approximately 3,172,951 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 7,697,951 shares. The stock had previously closed at $19.04.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BTDR shares. HC Wainwright raised their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. B. Riley boosted their target price on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Northland Securities upped their target price on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Alliance Global Partners started coverage on Bitdeer Technologies Group in a report on Tuesday, October 8th. They set a "buy" rating and a $14.00 price target on the stock. Finally, Needham & Company LLC increased their price objective on Bitdeer Technologies Group from $14.00 to $22.00 and gave the stock a "buy" rating in a report on Monday. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $21.00.

Bitdeer Technologies Group Price Performance

The stock has a market cap of $2.33 billion, a P/E ratio of -40.08 and a beta of 2.09. The company has a fifty day moving average of $17.07 and a 200 day moving average of $11.30.

Institutional Trading of Bitdeer Technologies Group

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