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

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price gapped down before the market opened on Monday . The stock had previously closed at $18.52, but opened at $16.90. Bitdeer Technologies Group shares last traded at $17.23, with a volume of 2,677,681 shares trading hands.

Wall Street Analysts Forecast Growth

BTDR has been the subject of a number of research reports. B. Riley lifted their target price on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Roth Mkm lifted their price objective on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. HC Wainwright increased their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Keefe, Bruyette & Woods assumed coverage on shares of Bitdeer Technologies Group in a report on Monday, January 27th. They set an “outperform” rating and a $26.50 target price for the company. Finally, Alliance Global Partners started coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price target on the stock. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $22.23.

Bitdeer Technologies Group Stock Down 5.0 %

The firm has a market capitalization of $1.89 billion, a PE ratio of -32.48 and a beta of 2.04. The stock has a 50-day moving average price of $19.56 and a 200 day moving average price of $12.15.

Hedge Funds Weigh In On Bitdeer Technologies Group

Large investors have recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth about $65,000. Public Employees Retirement System of Ohio acquired a new stake in Bitdeer Technologies Group in the 3rd quarter worth about $66,000. Centiva Capital LP purchased a new stake in Bitdeer Technologies Group during the 3rd quarter worth approximately $91,000. Barclays PLC acquired a new position in shares of Bitdeer Technologies Group during the third quarter valued at approximately $161,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Bitdeer Technologies Group in the third quarter valued at approximately $169,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.