Bitdeer Technologies Group (NASDAQ:BTDR) Sees Strong Trading Volume – Here’s What Happened

Bitdeer Technologies Group (NASDAQ:BTDR) saw an uptick in trading volume on Monday . 3,066,821 shares were traded during mid-day trading, an increase of 7% from the previous session’s volume of 2,853,622 shares.The stock last traded at $23.05 and had previously closed at $20.92.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BTDR. Benchmark upped their price objective on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Roth Mkm raised their target price on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday. Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Rosenblatt Securities increased 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, Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $18.60.

Bitdeer Technologies Group Stock Down 8.3 %

The business has a 50-day simple moving average of $11.79 and a two-hundred day simple moving average of $9.54. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -40.81 and a beta of 2.27.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at $66,000. Centiva Capital LP purchased a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth about $91,000. Barclays PLC bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Bitdeer Technologies Group during the third quarter valued at approximately $169,000. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth $272,000. 22.25% of the stock is owned by institutional investors and hedge funds.

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.