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

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price gapped up before the market opened 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 trading hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. B. Riley assumed coverage on Bitdeer Technologies Group in a research report on Tuesday, March 12th. They set a “buy” rating and a $9.00 target price on the stock. Needham & Company LLC assumed coverage on Bitdeer Technologies Group in a research report on Monday. They set a “buy” rating and a $14.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, March 26th. Rosenblatt Securities initiated coverage on Bitdeer Technologies Group in a research report on Tuesday, April 9th. They set a “buy” rating and a $10.50 target price on the stock. Finally, Benchmark reissued a “buy” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Monday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $13.64.

Bitdeer Technologies Group Price Performance

The business has a fifty day moving average price of $7.09 and a two-hundred day moving average price of $6.54. The firm has a market capitalization of $606.88 million, a price-to-earnings ratio of -12.90 and a beta of 1.70.

Institutional Trading of Bitdeer Technologies Group

Hedge funds have recently modified their holdings of the stock. EDBI Pte Ltd purchased a new stake in shares of Bitdeer Technologies Group in the third quarter worth about $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 worth $5,265,000 after buying an additional 243,245 shares during the last quarter. Swiss National Bank purchased a new stake in shares of Bitdeer Technologies Group in the third quarter worth about $604,000. Barclays PLC purchased a new stake in shares of Bitdeer Technologies Group in the third quarter worth about $49,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Bitdeer Technologies Group in the third quarter worth about $150,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.