Bitdeer Technologies Group (NASDAQ:BTDR) Sees Strong Trading Volume – Time to Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) shares saw an uptick in trading volume on Monday . 3,835,968 shares changed hands during mid-day trading, an increase of 24% from the previous session’s volume of 3,099,579 shares.The stock last traded at $20.35 and had previously closed at $23.65.

Analyst Upgrades and Downgrades

BTDR has been the topic of a number of research analyst reports. B. Riley raised their target price on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, November 19th. Roth Mkm increased their target price on Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Rosenblatt Securities raised their target price on Bitdeer Technologies Group from $17.00 to $22.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Northland Securities upped their price target on Bitdeer Technologies Group from $14.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $19.80.

Bitdeer Technologies Group Price Performance

The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -41.67 and a beta of 2.27. The business has a 50 day moving average of $14.57 and a 200 day moving average of $10.52.

Hedge Funds Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in Bitdeer Technologies Group in the third quarter worth about $66,000. Centiva Capital LP bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $91,000. Barclays PLC acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Bitdeer Technologies Group in the 3rd quarter valued at $220,000. 22.25% of the stock is owned by 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.