Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up to $6.04

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $6.04, but opened at $6.27. Bitdeer Technologies Group shares last traded at $5.93, with a volume of 201,824 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. BTIG Research assumed coverage on Bitdeer Technologies Group in a research note on Wednesday, March 13th. They issued a “buy” rating and a $15.00 target price for the company. Roth Mkm began coverage on Bitdeer Technologies Group in a report on Thursday, February 29th. They set a “buy” rating and a $14.00 target price on the stock. Needham & Company LLC initiated coverage on Bitdeer Technologies Group in a report on Monday. They set a “buy” rating and a $14.00 target price on the stock. Benchmark reissued a “buy” rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Wednesday, March 27th. Finally, Rosenblatt Securities assumed coverage on Bitdeer Technologies Group in a research report on Tuesday, April 9th. They issued a “buy” rating and a $10.50 target price on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Bitdeer Technologies Group presently has an average rating of “Buy” and a consensus target price of $13.64.

View Our Latest Stock Analysis on Bitdeer Technologies Group

Bitdeer Technologies Group Trading Down 4.5 %

The firm’s 50-day moving average is $7.14 and its 200 day moving average is $6.60. The firm has a market capitalization of $646.07 million, a price-to-earnings ratio of -14.38 and a beta of 1.70.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Nomura Holdings Inc. bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at $15,350,000. Van ECK Associates Corp increased its stake in shares of Bitdeer Technologies Group by 196.2% in the 4th quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock valued at $10,848,000 after acquiring an additional 728,804 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Bitdeer Technologies Group by 83.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock valued at $5,265,000 after acquiring an additional 243,245 shares in the last quarter. EDBI Pte Ltd bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at $3,444,000. Finally, Vident Advisory LLC increased its stake in Bitdeer Technologies Group by 422.7% during the 4th quarter. Vident Advisory LLC now owns 303,260 shares of the company’s stock valued at $2,990,000 after purchasing an additional 245,242 shares in the last quarter. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

(Get Free Report)

Bitdeer Technologies Group operates as a technology company for the cryptocurrency mining community. It mines cryptocurrencies for its own account and serve the cryptocurrency mining community by providing cryptocurrency mining solution. The company handles various processes involved in mining, such as miner procurement, transport logistics, mining datacenter design and construction, mining machine management, and daily operations.

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