Bitdeer Technologies Group (NASDAQ:BTDR) Stock Price Down 5.1%

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price was down 5.1% during trading on Tuesday . The company traded as low as $5.25 and last traded at $5.36. Approximately 323,475 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 1,813,629 shares. The stock had previously closed at $5.65.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BTDR. BTIG Research initiated coverage on shares of Bitdeer Technologies Group in a report on Wednesday, March 13th. They set a “buy” rating and a $15.00 price objective for the company. Benchmark reissued a “buy” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday, March 26th. Needham & Company LLC started coverage on Bitdeer Technologies Group in a research report on Monday. They set a “buy” rating and a $14.00 price objective for the company. Finally, B. Riley began coverage on Bitdeer Technologies Group in a research note on Tuesday, March 12th. They set a “buy” rating and a $9.00 target price for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $13.64.

Bitdeer Technologies Group Price Performance

The company’s 50 day moving average is $7.12 and its two-hundred day moving average is $6.57. The firm has a market cap of $610.24 million, a P/E ratio of -12.59 and a beta of 1.70.

Hedge Funds Weigh In On Bitdeer Technologies Group

Hedge funds have recently made changes to their positions in the business. Nomura Holdings Inc. bought a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at $15,350,000. Van ECK Associates Corp increased its stake in shares of Bitdeer Technologies Group by 196.2% in 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 raised its position in shares of Bitdeer Technologies Group by 83.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock worth $5,265,000 after acquiring an additional 243,245 shares during the last quarter. EDBI Pte Ltd acquired a new position in shares of Bitdeer Technologies Group during the third quarter valued at $3,444,000. Finally, Vident Advisory LLC boosted its holdings in Bitdeer Technologies Group by 422.7% in the fourth quarter. Vident Advisory LLC now owns 303,260 shares of the company’s stock valued at $2,990,000 after acquiring an additional 245,242 shares during the last quarter. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

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.