Bitdeer Technologies Group (NASDAQ:BTDR) Trading 3.7% Higher

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price traded up 3.7% on Wednesday . The company traded as high as $5.77 and last traded at $5.62. 121,100 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,798,693 shares. The stock had previously closed at $5.42.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, March 26th. Needham & Company LLC initiated coverage on shares of Bitdeer Technologies Group in a report on Monday. They issued a “buy” rating and a $14.00 target price for the company. Roth Mkm initiated coverage on shares of Bitdeer Technologies Group in a report on Thursday, February 29th. They issued a “buy” rating and a $14.00 target price for the company. B. Riley initiated coverage on shares of Bitdeer Technologies Group in a report on Tuesday, March 12th. They issued a “buy” rating and a $9.00 target price for the company. Finally, Rosenblatt Securities initiated coverage on shares of Bitdeer Technologies Group in a report on Tuesday, April 9th. They issued a “buy” rating and a $10.50 target price for the company. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Bitdeer Technologies Group presently has a consensus rating of “Buy” and a consensus price target of $13.64.

Bitdeer Technologies Group Stock Performance

The firm’s 50 day simple moving average is $7.09 and its 200-day simple moving average is $6.54.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors have recently bought and sold shares of the business. EDBI Pte Ltd purchased a new stake in Bitdeer Technologies Group during the third quarter worth approximately $3,444,000. Exchange Traded Concepts LLC boosted its stake in shares of Bitdeer Technologies Group by 83.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock valued at $5,265,000 after purchasing an additional 243,245 shares during the period. Swiss National Bank purchased a new position in shares of Bitdeer Technologies Group in the third quarter valued at $604,000. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group in the third quarter valued at $49,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Bitdeer Technologies Group in the third quarter valued at $150,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Company Profile

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.