Bitdeer Technologies Group (NASDAQ:BTDR) Shares Down 7.6% - Time to Sell?

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) shares traded down 7.6% on Thursday . The company traded as low as $9.94 and last traded at $9.90. 1,424,884 shares changed hands during trading, a decline of 65% from the average session volume of 4,062,971 shares. The stock had previously closed at $10.71.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BTDR. Needham & Company LLC reduced their price target on shares of Bitdeer Technologies Group from $22.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Roth Mkm restated a "buy" rating and issued a $23.50 price target (down from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Northland Securities increased their price objective on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Rosenblatt Securities decreased their price target on Bitdeer Technologies Group from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Benchmark reduced their target price on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $21.30.

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Bitdeer Technologies Group Stock Down 1.9 %

The firm has a fifty day moving average of $15.84 and a 200-day moving average of $13.16. The firm has a market cap of $1.14 billion, a P/E ratio of -19.49 and a beta of 2.12.

Institutional Trading of Bitdeer Technologies Group

A number of institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new stake in Bitdeer Technologies Group in the 4th quarter valued at $42,000. Stonebridge Financial Group LLC bought a new stake in Bitdeer Technologies Group during the 4th quarter valued at $65,000. SBI Securities Co. Ltd. purchased a new stake in Bitdeer Technologies Group in the 4th quarter worth approximately $79,000. Wells Fargo & Company MN increased its position in shares of Bitdeer Technologies Group by 56.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock worth $93,000 after purchasing an additional 1,540 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Bitdeer Technologies Group in the fourth quarter worth approximately $116,000. 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.