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

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) gapped down prior to trading on Monday . The stock had previously closed at $18.50, but opened at $17.33. Bitdeer Technologies Group shares last traded at $17.58, with a volume of 1,524,408 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Roth Mkm raised their target price on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Rosenblatt Securities restated a “buy” rating and set a $22.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday. B. Riley lifted their target price on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Northland Securities increased their target price on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Alliance Global Partners assumed coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, October 8th. They set a “buy” rating and a $14.00 price objective for the company. Ten investment analysts have rated the stock with a buy rating and one has assigned 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 $21.00.

Bitdeer Technologies Group Price Performance

The stock has a 50-day moving average price of $16.64 and a 200-day moving average price of $11.19. The company has a market capitalization of $1.88 billion, a P/E ratio of -32.31 and a beta of 2.09.

Hedge Funds Weigh In On Bitdeer Technologies Group

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new stake in Bitdeer Technologies Group during the 3rd quarter worth about $66,000. Centiva Capital LP bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $91,000. Barclays PLC acquired a new stake in Bitdeer Technologies Group during the third quarter worth approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Bitdeer Technologies Group in the third quarter worth approximately $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Bitdeer Technologies Group in the third quarter valued at approximately $220,000. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

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.