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

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $18.52, but opened at $16.90. Bitdeer Technologies Group shares last traded at $17.23, with a volume of 2,677,681 shares.

Analyst Ratings Changes

BTDR has been the topic of a number of recent research reports. Keefe, Bruyette & Woods initiated coverage on shares of Bitdeer Technologies Group in a research report on Monday, January 27th. They set an “outperform” rating and a $26.50 price target on the stock. Roth Mkm increased their price target 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, December 17th. B. Riley boosted their price objective on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Northland Securities upped their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, HC Wainwright lifted 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. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $21.50.

Bitdeer Technologies Group Stock Down 7.2 %

The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -33.05 and a beta of 2.04. The stock has a 50 day moving average price of $19.34 and a 200 day moving average price of $12.05.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC raised its stake in shares of Bitdeer Technologies Group by 901.0% during the second quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock valued at $4,210,000 after acquiring an additional 369,363 shares during the last quarter. Shariaportfolio Inc. acquired a new stake in Bitdeer Technologies Group in the third quarter valued at $1,039,000. Charles Schwab Investment Management Inc. raised its position in Bitdeer Technologies Group by 281.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock worth $1,933,000 after purchasing an additional 182,110 shares during the last quarter. Mirabella Financial Services LLP acquired a new position in Bitdeer Technologies Group during the 3rd quarter worth about $5,872,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $169,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.