Bitdeer Technologies Group (NASDAQ:BTDR) Shares Up 5.7% After Analyst Upgrade

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price was up 5.7% on Wednesday after Roth Mkm raised their price target on the stock from $15.00 to $29.00. Roth Mkm currently has a buy rating on the stock. Bitdeer Technologies Group traded as high as $22.60 and last traded at $22.44. Approximately 4,300,233 shares were traded during mid-day trading, an increase of 45% from the average daily volume of 2,966,461 shares. The stock had previously closed at $21.22.

A number of other analysts also recently commented on BTDR. B. Riley dropped their target price 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Northland Securities raised their price objective on Bitdeer Technologies Group from $14.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Rosenblatt Securities boosted their target price on Bitdeer Technologies Group from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $18.60.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently bought and sold shares of BTDR. Mirabella Financial Services LLP purchased a new stake in shares of Bitdeer Technologies Group in the third quarter worth approximately $5,872,000. D1 Capital Partners L.P. acquired a new position in Bitdeer Technologies Group in the 2nd quarter valued at approximately $5,386,000. Marshall Wace LLP purchased a new stake in Bitdeer Technologies Group in the 2nd quarter worth approximately $5,074,000. Point72 Asset Management L.P. acquired a new stake in shares of Bitdeer Technologies Group during the 2nd quarter valued at $4,617,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Bitdeer Technologies Group during the 2nd quarter valued at $4,510,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Trading Down 8.6 %

The firm has a market capitalization of $2.17 billion, a PE ratio of -37.31 and a beta of 2.27. The firm’s fifty day moving average price is $12.05 and its 200 day moving average price is $9.61.

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.