Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – Here’s What Happened

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $9.26, but opened at $10.03. Bitdeer Technologies Group shares last traded at $10.30, with a volume of 3,517,370 shares.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Needham & Company LLC dropped their target price on Bitdeer Technologies Group from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday. B. Riley raised their price target 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. Roth Mkm reiterated a “buy” rating and set a $23.50 price target (down previously from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday. Northland Securities upped their price target on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Benchmark decreased their target price on Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Bitdeer Technologies Group presently has an average rating of “Buy” and a consensus price target of $21.18.

Bitdeer Technologies Group Trading Up 11.3 %

The firm’s fifty day simple moving average is $18.78 and its 200 day simple moving average is $12.81. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -19.86 and a beta of 2.04.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several large investors have recently bought and sold shares of the business. Quarry LP purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $42,000. Stonebridge Financial Group LLC acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at $65,000. SBI Securities Co. Ltd. purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth approximately $79,000. Wells Fargo & Company MN lifted its stake in shares of Bitdeer Technologies Group by 56.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock worth $93,000 after acquiring an additional 1,540 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Bitdeer Technologies Group during the 4th quarter worth approximately $116,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.