Bitdeer Technologies Group (NASDAQ:BTDR) Shares Down 2.9%

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price was down 2.9% during mid-day trading on Tuesday . The company traded as low as $6.78 and last traded at $7.00. Approximately 465,279 shares traded hands during trading, a decline of 77% from the average daily volume of 2,009,333 shares. The stock had previously closed at $7.21.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BTDR shares. Benchmark reiterated a “buy” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Wednesday. Roth Mkm started coverage on Bitdeer Technologies Group in a research note on Thursday, February 29th. They set a “buy” rating and a $14.00 price objective on the stock. B. Riley started coverage on Bitdeer Technologies Group in a research note on Tuesday, March 12th. They set a “buy” rating and a $9.00 price objective on the stock. BTIG Research started coverage on Bitdeer Technologies Group in a research note on Wednesday, March 13th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $14.20.

Bitdeer Technologies Group Trading Down 0.1 %

The business has a fifty day moving average price of $7.26 and a 200-day moving average price of $7.03. The stock has a market capitalization of $770.12 million, a PE ratio of -15.38 and a beta of 1.70.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently modified their holdings of BTDR. SC CHINA HOLDING Ltd purchased a new position in shares of Bitdeer Technologies Group in the 2nd quarter worth about $45,242,000. Nomura Holdings Inc. purchased a new stake in Bitdeer Technologies Group during the 4th quarter valued at about $15,350,000. SC US Ttgp LTD. purchased a new stake in Bitdeer Technologies Group during the 2nd quarter valued at about $14,291,000. Van ECK Associates Corp boosted its holdings in Bitdeer Technologies Group by 196.2% during 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 during the period. Finally, EDBI Pte Ltd purchased a new stake in Bitdeer Technologies Group during the 3rd quarter valued at about $3,444,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.