Bitdeer Technologies Group (NASDAQ:BTDR) Sees Large Volume Increase – Time to Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) saw unusually-strong trading volume on Monday . Approximately 2,627,144 shares were traded during trading, an increase of 7% from the previous session’s volume of 2,450,656 shares.The stock last traded at $14.19 and had previously closed at $14.27.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. HC Wainwright raised their price target on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Alliance Global Partners initiated coverage on Bitdeer Technologies Group in a research note on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price target on the stock. B. Riley reduced their price objective on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Benchmark restated a “buy” rating and issued a $16.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Ten equities 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 stock has a consensus rating of “Buy” and a consensus target price of $14.80.

Bitdeer Technologies Group Trading Up 6.9 %

The firm’s fifty day simple moving average is $9.27 and its two-hundred day simple moving average is $8.55. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -28.44 and a beta of 2.27.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BTDR. Public Employees Retirement System of Ohio acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at $66,000. Centiva Capital LP purchased a new stake in Bitdeer Technologies Group in the 3rd quarter valued at about $91,000. Barclays PLC acquired a new position in Bitdeer Technologies Group in the third quarter valued at about $161,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Bitdeer Technologies Group during the third quarter worth about $169,000. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Bitdeer Technologies Group by 96.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock valued at $347,000 after acquiring an additional 21,798 shares during the last quarter. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

About Bitdeer Technologies Group

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.