Bitdeer Technologies Group (NASDAQ:BTDR) Shares Up 5.2% – What’s Next?

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price traded up 5.2% during mid-day trading on Thursday . The company traded as high as $12.84 and last traded at $12.51. 322,406 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 2,275,755 shares. The stock had previously closed at $11.89.

Wall Street Analysts Forecast Growth

BTDR has been the topic of several research analyst reports. Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. HC Wainwright upped their target price on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday. B. Riley lowered their price objective on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Alliance Global Partners initiated coverage on Bitdeer Technologies Group in a report on Tuesday, October 8th. They set a “buy” rating and a $14.00 target price on the stock. Finally, Benchmark restated a “buy” rating and set a $16.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Bitdeer Technologies Group presently has a consensus rating of “Buy” and a consensus target price of $14.80.

Bitdeer Technologies Group Stock Performance

The firm has a 50 day simple moving average of $8.26 and a two-hundred day simple moving average of $8.09.

Institutional Trading of Bitdeer Technologies Group

Several large investors have recently made changes to their positions in BTDR. Mirabella Financial Services LLP purchased a new position in Bitdeer Technologies Group in the third quarter worth $5,872,000. D1 Capital Partners L.P. purchased a new stake in Bitdeer Technologies Group during the second quarter valued at about $5,386,000. Marshall Wace LLP bought a new position in Bitdeer Technologies Group during the second quarter worth about $5,074,000. Point72 Asset Management L.P. purchased a new stake in shares of Bitdeer Technologies Group during the 2nd quarter valued at approximately $4,617,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Bitdeer Technologies Group during the second quarter worth $4,510,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.