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

Bitdeer Technologies Group (NASDAQ:BTDR) shares saw strong trading volume on Monday . 3,835,968 shares traded hands during trading, an increase of 24% from the previous session’s volume of 3,099,579 shares.The stock last traded at $20.35 and had previously closed at $23.65.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Rosenblatt Securities boosted their price target on shares of Bitdeer Technologies Group from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Roth Mkm increased their price target on Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Benchmark boosted their price objective on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. HC Wainwright raised their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Ten research 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 company has an average rating of “Buy” and a consensus price target of $19.80.

Bitdeer Technologies Group Stock Down 2.8 %

The firm has a fifty day moving average of $14.57 and a 200-day moving average of $10.52. The firm has a market cap of $2.43 billion, a P/E ratio of -41.67 and a beta of 2.27.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new stake in shares of Bitdeer Technologies Group during the third quarter worth approximately $66,000. Centiva Capital LP bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at $91,000. Barclays PLC bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Bitdeer Technologies Group in 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 in the 3rd quarter worth $220,000. 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.