Bitdeer Technologies Group (NASDAQ:BTDR) Sees Large Volume Increase – Here’s What Happened

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) saw an uptick in trading volume on Monday . 2,627,144 shares traded hands during mid-day trading, an increase of 7% from the previous session’s volume of 2,450,656 shares.The stock last traded at $14.19 and had previously closed at $14.27.

Analyst Ratings Changes

Several research firms have recently issued reports on BTDR. Northland Securities boosted their price target on shares of Bitdeer Technologies Group from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Rosenblatt Securities upped their target price on shares of Bitdeer Technologies Group from $9.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Benchmark reaffirmed a “buy” rating and set a $16.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $14.80.

Bitdeer Technologies Group Stock Performance

The company’s 50-day moving average price is $8.99 and its two-hundred day moving average price is $8.43. The stock has a market cap of $1.57 billion, a PE ratio of -27.44 and a beta of 1.92.

Institutional Trading of Bitdeer Technologies Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at $66,000. Centiva Capital LP bought a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at $91,000. Barclays PLC bought a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at $220,000. 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 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.