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

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) saw unusually-strong trading volume on Tuesday . Approximately 2,554,151 shares were traded during mid-day trading, an increase of 27% from the previous session’s volume of 2,011,121 shares.The stock last traded at $9.28 and had previously closed at $9.37.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BTDR shares. Rosenblatt Securities restated a “buy” rating and set a $9.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. Benchmark restated a “buy” rating and issued a $16.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, August 13th. HC Wainwright reduced their price target on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Northland Securities initiated coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $13.00 price objective for the company. Finally, Alliance Global Partners initiated coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, October 8th. They set a “buy” rating and a $14.00 target price on the stock. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $13.70.

Check Out Our Latest Stock Report on Bitdeer Technologies Group

Bitdeer Technologies Group Price Performance

The company has a market capitalization of $971.86 million, a PE ratio of -45.68 and a beta of 1.92. The company’s fifty day moving average is $7.26 and its 200-day moving average is $7.69.

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). The company had revenue of $99.23 million during the quarter, compared to analysts’ expectations of $110.79 million. Bitdeer Technologies Group had a negative net margin of 5.69% and a negative return on equity of 2.56%. Equities research analysts forecast that Bitdeer Technologies Group will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Large investors have recently added to or reduced their stakes in the company. Vident Advisory LLC grew its position in shares of Bitdeer Technologies Group by 186.4% in the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock worth $6,098,000 after buying an additional 565,362 shares during the last quarter. D1 Capital Partners L.P. acquired a new position in shares of Bitdeer Technologies Group during the second quarter worth $5,386,000. Marshall Wace LLP purchased a new stake in shares of Bitdeer Technologies Group during the 2nd quarter valued at $5,074,000. Point72 Asset Management L.P. acquired a new stake in shares of Bitdeer Technologies Group in the 2nd quarter worth $4,617,000. Finally, Point72 Hong Kong Ltd purchased a new position in Bitdeer Technologies Group during the 2nd quarter worth $4,510,000. 22.25% of the stock is currently owned by institutional investors.

About Bitdeer Technologies Group

(Get Free Report)

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.

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