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

Bitdeer Technologies Group (NASDAQ:BTDR) shares gapped down prior to trading 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 changing hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on BTDR shares. Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Needham & Company LLC lifted their price target on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Monday. HC Wainwright raised their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Rosenblatt Securities reiterated a “buy” rating and set a $22.00 price target on shares of Bitdeer Technologies Group in a report on Monday. Finally, Roth Mkm raised their price objective 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. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Bitdeer Technologies Group currently has an average rating of “Buy” and a consensus price target of $21.00.

Bitdeer Technologies Group Trading Down 9.2 %

The stock has a market capitalization of $1.88 billion, a PE ratio of -32.31 and a beta of 2.09. The firm has a 50-day moving average price of $16.64 and a 200-day moving average price of $11.19.

Institutional Trading of Bitdeer Technologies Group

A number of large investors have recently added to or reduced their stakes in BTDR. Charles Schwab Investment Management Inc. increased its stake in shares of Bitdeer Technologies Group by 281.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock worth $1,933,000 after purchasing an additional 182,110 shares during the last quarter. Millennium Management LLC boosted its position in Bitdeer Technologies Group by 901.0% during the second quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock worth $4,210,000 after purchasing an additional 369,363 shares during the period. Mirabella Financial Services LLP purchased a new position in Bitdeer Technologies Group in the 3rd quarter valued at approximately $5,872,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Bitdeer Technologies Group during the 3rd quarter worth about $220,000. Finally, Geode Capital Management LLC increased its holdings in shares of Bitdeer Technologies Group by 14.6% in the third quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock worth $2,886,000 after purchasing an additional 46,968 shares during the period. 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.