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

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BTDR shares. BTIG Research started coverage on shares of Bitdeer Technologies Group in a research note on Wednesday, March 13th. They set a “buy” rating and a $15.00 price target for the company. B. Riley started coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, March 12th. They set a “buy” rating and a $9.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, March 26th. Roth Mkm began coverage on shares of Bitdeer Technologies Group in a research note on Thursday, February 29th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Needham & Company LLC began coverage on shares of Bitdeer Technologies Group in a research note on Monday. They issued a “buy” rating and a $14.00 target price for the company. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Bitdeer Technologies Group has a consensus rating of “Buy” and a consensus target price of $13.64.

Bitdeer Technologies Group Stock Up 2.7 %

The business’s fifty day moving average is $7.01 and its 200 day moving average is $6.53. The firm has a market capitalization of $637.11 million, a price-to-earnings ratio of -13.55 and a beta of 1.70.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Group AG acquired a new stake in shares of Bitdeer Technologies Group during the third quarter worth $35,000. Deutsche Bank AG bought a new position in Bitdeer Technologies Group in the third quarter valued at $41,000. Barclays PLC bought a new position in Bitdeer Technologies Group in the third quarter valued at $49,000. Wellington Management Group LLP bought a new position in Bitdeer Technologies Group in the fourth quarter valued at $116,000. Finally, Occudo Quantitative Strategies LP bought a new position in Bitdeer Technologies Group in the fourth quarter valued at $127,000. 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 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.