Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down – What’s Next?

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $18.50, but opened at $17.33. Bitdeer Technologies Group shares last traded at $17.58, with a volume of 1,524,408 shares.

Wall Street Analyst Weigh In

A number of research analysts have commented on BTDR shares. Alliance Global Partners began coverage on Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and issued a $22.00 price target on shares of Bitdeer Technologies Group in a research note on Monday. Benchmark boosted their price objective on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a report on Monday, December 9th. B. Riley raised their target price on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $21.00.

Bitdeer Technologies Group Price Performance

The firm’s 50-day simple moving average is $17.07 and its 200 day simple moving average is $11.30. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -36.61 and a beta of 2.09.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently modified their holdings of BTDR. Public Employees Retirement System of Ohio acquired a new stake in Bitdeer Technologies Group in the third quarter valued at about $66,000. Centiva Capital LP bought a new position in shares of Bitdeer Technologies Group in the third quarter worth about $91,000. Barclays PLC acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at approximately $220,000. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group operates as a technology company for 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.