Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Down 3.6% - What's Next?

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report)'s share price was down 3.6% during trading on Tuesday . The company traded as low as $11.30 and last traded at $11.23. Approximately 470,380 shares traded hands during trading, a decline of 89% from the average daily volume of 4,127,947 shares. The stock had previously closed at $11.65.

Analyst Ratings Changes

A number of research analysts have issued reports on BTDR shares. Northland Securities upped their price objective on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Keefe, Bruyette & Woods began coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They set an "outperform" rating and a $26.50 price objective for the company. HC Wainwright restated a "buy" rating and issued a $21.00 target price (down from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Rosenblatt Securities dropped their price target on Bitdeer Technologies Group from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Finally, Benchmark decreased their price objective on Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $21.00.

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Bitdeer Technologies Group Trading Down 7.9 %

The firm has a market cap of $1.02 billion, a PE ratio of -17.58 and a beta of 2.12. The stock has a fifty day simple moving average of $13.92 and a two-hundred day simple moving average of $13.35.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently made changes to their positions in BTDR. Charles Schwab Investment Management Inc. increased its holdings 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 worth $1,933,000 after buying an additional 182,110 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $169,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Bitdeer Technologies Group in the 3rd quarter worth approximately $220,000. Centiva Capital LP bought a new position in Bitdeer Technologies Group during the third quarter valued at approximately $91,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $285,000. Hedge funds and other institutional investors own 22.25% of the company's stock.

About Bitdeer Technologies Group

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.