Bitdeer Technologies Group (NASDAQ:BTDR) Shares Down 4.5% – Time to Sell?

Bitdeer Technologies Group (NASDAQ:BTDR) was down 4.5% during trading on Monday . The company traded as low as $19.52 and last traded at $19.57. Approximately 2,810,037 shares traded hands during trading, a decline of 8% from the average daily volume of 3,042,199 shares. The stock had previously closed at $20.49.

Analyst Ratings Changes

Several equities analysts have weighed in on BTDR shares. B. Riley lifted their target price on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, November 19th. Roth Mkm boosted their price target on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Finally, Alliance Global Partners started coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price target on the stock. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $19.80.

Bitdeer Technologies Group Price Performance

The stock has a market capitalization of $2.21 billion, a P/E ratio of -38.02 and a beta of 2.27. The stock’s fifty day moving average is $12.53 and its 200-day moving average is $9.80.

Institutional Trading of Bitdeer Technologies Group

Large investors have recently made changes to their positions in the stock. Mirabella Financial Services LLP bought a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $5,872,000. D1 Capital Partners L.P. acquired a new position in Bitdeer Technologies Group during the second quarter valued at approximately $5,386,000. Marshall Wace LLP bought a new position in shares of Bitdeer Technologies Group in the second quarter valued at approximately $5,074,000. Point72 Asset Management L.P. acquired a new stake in shares of Bitdeer Technologies Group in the second quarter worth $4,617,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Bitdeer Technologies Group during the 2nd quarter worth $4,510,000. Institutional investors own 22.25% of the company’s stock.

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.