Bitdeer Technologies Group (NASDAQ:BTDR) Sees Unusually-High Trading Volume – What’s Next?

Bitdeer Technologies Group (NASDAQ:BTDR) saw an uptick in trading volume on Tuesday . 2,554,151 shares were traded during trading, an increase of 27% from the previous session’s volume of 2,011,121 shares.The stock last traded at $9.28 and had previously closed at $9.37.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BTDR shares. Benchmark reissued a “buy” rating and issued a $16.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, August 13th. Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Roth Mkm restated a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. HC Wainwright dropped their price target on Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, Northland Securities assumed coverage on Bitdeer Technologies Group in a research report on Wednesday, October 9th. They set an “outperform” rating and a $13.00 price objective on the stock. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $13.70.

Bitdeer Technologies Group Stock Down 1.5 %

The business has a 50 day moving average price of $7.17 and a 200 day moving average price of $7.66. The stock has a market cap of $1.03 billion, a P/E ratio of -22.51 and a beta of 1.92.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). Bitdeer Technologies Group had a negative net margin of 5.69% and a negative return on equity of 2.56%. The business had revenue of $99.23 million for the quarter, compared to analysts’ expectations of $110.79 million. On average, research analysts expect that Bitdeer Technologies Group will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of Bitdeer Technologies Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Central Asset Investments & Management Holdings HK Ltd bought a new position in Bitdeer Technologies Group during the 2nd quarter worth about $272,000. XTX Topco Ltd bought a new position in shares of Bitdeer Technologies Group during the second quarter valued at approximately $276,000. Virtu Financial LLC purchased a new position in Bitdeer Technologies Group during the first quarter valued at approximately $431,000. Symmetry Investments LP purchased a new position in Bitdeer Technologies Group during the second quarter valued at approximately $432,000. Finally, Shariaportfolio Inc. purchased a new stake in Bitdeer Technologies Group during the third quarter worth $1,039,000. Institutional investors own 22.25% of the company’s stock.

About Bitdeer Technologies Group

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.