Bitdeer Technologies Group (NASDAQ:BTDR) Shares Down 2.9%

Bitdeer Technologies Group (NASDAQ:BTDR) traded down 2.9% during mid-day trading on Tuesday . The stock traded as low as $6.78 and last traded at $7.00. 465,279 shares traded hands during trading, a decline of 77% from the average session volume of 2,009,333 shares. The stock had previously closed at $7.21.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. BTIG Research assumed coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, March 13th. They set a “buy” rating and a $15.00 price target on the stock. Roth Mkm started coverage on shares of Bitdeer Technologies Group in a research report on Thursday, February 29th. They set a “buy” rating and a $14.00 target price on the stock. Benchmark restated a “buy” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Wednesday. B. Riley started coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, March 12th. They set a “buy” rating and a $9.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $14.20.

Bitdeer Technologies Group Price Performance

The firm’s 50 day moving average is $7.26 and its two-hundred day moving average is $7.03. The firm has a market capitalization of $770.12 million, a P/E ratio of -15.38 and a beta of 1.70.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors have recently modified their holdings of the business. UBS Group AG bought a new stake in Bitdeer Technologies Group during the third quarter worth about $35,000. Deutsche Bank AG bought a new stake in Bitdeer Technologies Group during the third quarter worth about $41,000. Barclays PLC bought a new stake in Bitdeer Technologies Group during the third quarter worth about $49,000. Wellington Management Group LLP bought a new stake in Bitdeer Technologies Group during the fourth quarter worth about $116,000. Finally, Occudo Quantitative Strategies LP bought a new stake in Bitdeer Technologies Group during the fourth quarter worth about $127,000. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group operates as a technology company for the cryptocurrency mining community. It mines cryptocurrencies for its own account and serve the cryptocurrency mining community by providing cryptocurrency mining solution. The company handles various processes involved in mining, such as miner procurement, transport logistics, mining datacenter design and construction, mining machine management, and daily operations.