Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – Should You Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) shares gapped up before the market opened on Tuesday . The stock had previously closed at $22.29, but opened at $23.94. Bitdeer Technologies Group shares last traded at $22.87, with a volume of 1,694,112 shares changing hands.

Wall Street Analyst Weigh In

BTDR has been the topic of several analyst reports. Benchmark upped their price objective on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Roth Mkm upped their target price on Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. B. Riley lifted their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Northland Capmk raised Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Alliance Global Partners initiated coverage on Bitdeer Technologies Group in a research report on Tuesday, October 8th. They set 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $19.80.

Bitdeer Technologies Group Trading Down 2.8 %

The firm has a fifty day moving average of $14.57 and a two-hundred day moving average of $10.52. The company has a market cap of $2.43 billion, a PE ratio of -41.67 and a beta of 2.27.

Hedge Funds Weigh In On Bitdeer Technologies Group

Large investors have recently modified their holdings of the business. Central Asset Investments & Management Holdings HK Ltd bought a new position in Bitdeer Technologies Group in the 2nd quarter worth approximately $272,000. Thomist Capital Management LP purchased a new stake in shares of Bitdeer Technologies Group during the second quarter worth $1,156,000. XTX Topco Ltd bought a new position in shares of Bitdeer Technologies Group in the second quarter worth $276,000. Symmetry Investments LP purchased a new position in shares of Bitdeer Technologies Group in the second quarter valued at $432,000. Finally, D1 Capital Partners L.P. bought a new stake in shares of Bitdeer Technologies Group during the 2nd quarter valued at $5,386,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.