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

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) saw unusually-high trading volume on Tuesday . Approximately 3,003,642 shares were traded during trading, a decline of 2% from the previous session’s volume of 3,051,298 shares.The stock last traded at $22.31 and had previously closed at $20.52.

Wall Street Analysts Forecast Growth

BTDR has been the topic of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Needham & Company LLC reissued a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, November 19th. Rosenblatt Securities lifted their target price on shares of Bitdeer Technologies Group from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, December 6th. B. Riley increased their price target on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Alliance Global Partners started coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price objective for the company. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bitdeer Technologies Group has a consensus rating of “Buy” and an average target price of $19.80.

Bitdeer Technologies Group Stock Up 14.8 %

The company has a market cap of $2.64 billion, a PE ratio of -45.31 and a beta of 2.27. The company’s fifty day moving average is $13.40 and its 200-day moving average is $10.11.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in Bitdeer Technologies Group in the third quarter valued at about $66,000. Centiva Capital LP purchased a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $91,000. Barclays PLC bought a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Bitdeer Technologies Group in the third quarter worth approximately $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Bitdeer Technologies Group during the third quarter valued at approximately $220,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.