Bitdeer Technologies Group (NASDAQ:BTDR) Trading Up 16% – What’s Next?

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price was up 16% during trading on Wednesday . The stock traded as high as $17.30 and last traded at $17.15. Approximately 4,175,705 shares changed hands during trading, an increase of 67% from the average daily volume of 2,499,481 shares. The stock had previously closed at $14.79.

Analyst Ratings Changes

Several equities research analysts recently commented on BTDR shares. Needham & Company LLC reissued a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, November 19th. HC Wainwright boosted their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. B. Riley decreased their target price on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, October 11th. Northland Securities lifted their target price on shares of Bitdeer Technologies Group from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, Alliance Global Partners assumed coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 target price for the company. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Bitdeer Technologies Group has an average rating of “Buy” and an average price target of $14.80.

Bitdeer Technologies Group Stock Up 11.6 %

The firm’s fifty day moving average price is $9.27 and its two-hundred day moving average price is $8.55. The stock has a market capitalization of $1.85 billion, a PE ratio of -30.94 and a beta of 2.27.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new stake in Bitdeer Technologies Group during the third quarter valued at approximately $66,000. Centiva Capital LP purchased a new stake in Bitdeer Technologies Group during the third quarter valued at approximately $91,000. Barclays PLC purchased a new stake in Bitdeer Technologies Group during the third quarter valued at approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Bitdeer Technologies Group in the third quarter worth approximately $169,000. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of Bitdeer Technologies Group by 96.8% in 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 during the period. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.