Bitdeer Technologies Group (NASDAQ:BTDR) Trading 10.8% Higher – Time to Buy?

Bitdeer Technologies Group (NASDAQ:BTDR) shares shot up 10.8% on Wednesday . The company traded as high as $21.14 and last traded at $20.94. 4,301,956 shares were traded during trading, an increase of 57% from the average session volume of 2,736,764 shares. The stock had previously closed at $18.90.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BTDR. Northland Capmk raised Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Rosenblatt Securities lifted their price target on Bitdeer Technologies Group from $17.00 to $22.00 and gave the company a “buy” rating in a report on Friday, December 6th. B. Riley cut their price target on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Finally, Roth Mkm lifted their price target on Bitdeer Technologies Group from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $17.20.

Bitdeer Technologies Group Price Performance

The stock has a market cap of $2.19 billion, a P/E ratio of -40.27 and a beta of 2.27. The company has a fifty day moving average of $10.37 and a 200 day moving average of $9.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new position in shares of Bitdeer Technologies Group in the third quarter valued at $66,000. Centiva Capital LP bought a new position in shares of Bitdeer Technologies Group in the third quarter valued at $91,000. Barclays PLC bought a new position in shares of Bitdeer Technologies Group in the third quarter valued at $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Bitdeer Technologies Group in the third quarter valued at $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Bitdeer Technologies Group in the third quarter valued at $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.