Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down – Here’s What Happened

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) gapped down before the market opened on Monday . The stock had previously closed at $18.50, but opened at $17.33. Bitdeer Technologies Group shares last traded at $17.58, with a volume of 1,524,408 shares traded.

Wall Street Analyst Weigh In

BTDR has been the topic of a number of research reports. Benchmark boosted their price target on Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a report on Monday, December 9th. Northland Securities boosted their price objective on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Roth Mkm raised their target price on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Northland Capmk upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Alliance Global Partners started coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. They set 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 given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $21.00.

Bitdeer Technologies Group Stock Performance

The company has a market capitalization of $2.13 billion, a P/E ratio of -36.61 and a beta of 2.09. The stock’s fifty day moving average price is $17.07 and its 200-day moving average price is $11.30.

Institutional Trading of Bitdeer Technologies Group

Hedge funds have recently made changes to their positions in the business. Central Asset Investments & Management Holdings HK Ltd bought a new stake in Bitdeer Technologies Group in the 2nd quarter valued at $272,000. Thomist Capital Management LP bought a new position in shares of Bitdeer Technologies Group in the second quarter valued at about $1,156,000. XTX Topco Ltd acquired a new stake in shares of Bitdeer Technologies Group during the 2nd quarter worth about $276,000. Symmetry Investments LP bought a new stake in shares of Bitdeer Technologies Group during the 2nd quarter worth about $432,000. Finally, D1 Capital Partners L.P. acquired a new position in Bitdeer Technologies Group in the 2nd quarter valued at about $5,386,000. 22.25% of the stock is 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.