Bitdeer Technologies Group (NASDAQ:BTDR) Sees Large Volume Increase on Analyst Upgrade

Bitdeer Technologies Group (NASDAQ:BTDR) shares saw strong trading volume on Monday after Benchmark raised their price target on the stock from $16.00 to $29.00. Benchmark currently has a buy rating on the stock. 11,070,282 shares were traded during trading, an increase of 312% from the previous session’s volume of 2,688,355 shares.The stock last traded at $21.14 and had previously closed at $21.01.

Other analysts also recently issued research reports about the company. HC Wainwright boosted their price target 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. Rosenblatt Securities upped their target price on Bitdeer Technologies Group from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Friday. B. Riley cut their price target on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Alliance Global Partners started coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. They set a “buy” rating and a $14.00 price objective for the company. Finally, Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $17.20.

Hedge Funds Weigh In On Bitdeer Technologies Group

Large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new stake in Bitdeer Technologies Group during the third quarter valued at $66,000. Centiva Capital LP acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $91,000. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $161,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Bitdeer Technologies Group in the 3rd quarter worth about $220,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Stock Down 1.8 %

The business has a 50-day simple moving average of $9.87 and a 200-day simple moving average of $8.81. The company has a market cap of $2.31 billion, a PE ratio of -39.92 and a beta of 2.26.

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.