Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Up 11.8% – What’s Next?

Bitdeer Technologies Group (NASDAQ:BTDR) shares were up 11.8% during mid-day trading on Thursday . The company traded as high as $25.18 and last traded at $24.22. Approximately 3,491,817 shares changed hands during trading, an increase of 11% from the average daily volume of 3,140,711 shares. The stock had previously closed at $21.67.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Benchmark lifted their price objective on Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a report on Monday, December 9th. Needham & Company LLC restated a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Northland Capmk upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Finally, Roth Mkm upped their target price on Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Bitdeer Technologies Group 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 $2.92 billion, a price-to-earnings ratio of -50.19 and a beta of 2.27. The firm has a fifty day moving average of $15.53 and a 200 day moving average of $10.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BTDR. Sanctuary Advisors LLC acquired a new stake in Bitdeer Technologies Group in the third quarter valued at approximately $275,000. Barclays PLC acquired a new position in Bitdeer Technologies Group during the third quarter worth $161,000. Geode Capital Management LLC lifted its holdings in Bitdeer Technologies Group by 14.6% during the third quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock valued at $2,886,000 after purchasing an additional 46,968 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Bitdeer Technologies Group in the third quarter valued at about $66,000. Finally, Y Intercept Hong Kong Ltd increased its stake in shares of Bitdeer Technologies Group by 96.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock worth $347,000 after purchasing an additional 21,798 shares in the last quarter. 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.