Bitdeer Technologies Group (NASDAQ:BTDR) Trading Up 3.7%

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price was up 3.7% during mid-day trading on Wednesday . The stock traded as high as $5.77 and last traded at $5.62. Approximately 121,100 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 1,798,693 shares. The stock had previously closed at $5.42.

Analyst Ratings Changes

Several research analysts have issued reports on BTDR shares. Roth Mkm started coverage on shares of Bitdeer Technologies Group in a research report on Thursday, February 29th. They issued a “buy” rating and a $14.00 price target on the stock. B. Riley assumed coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, March 12th. They issued a “buy” rating and a $9.00 price target on the stock. Needham & Company LLC assumed coverage on shares of Bitdeer Technologies Group in a research note on Monday. They issued a “buy” rating and a $14.00 price objective for the company. Benchmark reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday. Finally, Rosenblatt Securities assumed coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, April 9th. They issued a “buy” rating and a $10.50 price objective for the company. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $13.64.

Bitdeer Technologies Group Stock Performance

The business’s 50 day moving average is $7.01 and its 200 day moving average is $6.53. The stock has a market cap of $637.11 million, a price-to-earnings ratio of -13.55 and a beta of 1.70.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently modified their holdings of the stock. Nomura Holdings Inc. acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at $15,350,000. Van ECK Associates Corp boosted its stake in shares of Bitdeer Technologies Group by 196.2% during the 4th quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock valued at $10,848,000 after buying an additional 728,804 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Bitdeer Technologies Group by 83.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock valued at $5,265,000 after buying an additional 243,245 shares during the period. EDBI Pte Ltd acquired a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at $3,444,000. Finally, Vident Advisory LLC boosted its stake in shares of Bitdeer Technologies Group by 422.7% during the 4th quarter. Vident Advisory LLC now owns 303,260 shares of the company’s stock valued at $2,990,000 after buying an additional 245,242 shares during the period. Institutional investors and hedge funds own 22.25% of the company’s stock.

About Bitdeer Technologies Group

Bitdeer Technologies Group operates as a technology company for the cryptocurrency mining community. It mines cryptocurrencies for its own account and serve the cryptocurrency mining community by providing cryptocurrency mining solution. The company handles various processes involved in mining, such as miner procurement, transport logistics, mining datacenter design and construction, mining machine management, and daily operations.