Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – Should You Buy?

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) gapped up prior to trading on Tuesday . The stock had previously closed at $14.01, but opened at $14.50. Bitdeer Technologies Group shares last traded at $14.13, with a volume of 925,224 shares.

Wall Street Analyst Weigh In

BTDR has been the subject of a number of research analyst reports. Benchmark reiterated a “buy” rating and issued a $24.00 price target on shares of Bitdeer Technologies Group in a research note on Monday, May 12th. Roth Mkm reiterated a “buy” rating and issued a $23.50 price target (down from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Rosenblatt Securities lifted their price target on shares of Bitdeer Technologies Group from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. B. Riley boosted their target price on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Finally, Wall Street Zen upgraded shares of Bitdeer Technologies Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $19.60.

Bitdeer Technologies Group Stock Down 3.3%

The firm has a market cap of $1.55 billion, a PE ratio of -26.60 and a beta of 2.32. The firm’s fifty day simple moving average is $11.56 and its two-hundred day simple moving average is $14.45.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in Bitdeer Technologies Group by 167.6% during the first quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock valued at $4,265,000 after purchasing an additional 302,548 shares in the last quarter. Scientech Research LLC lifted its holdings in shares of Bitdeer Technologies Group by 90.3% in the first quarter. Scientech Research LLC now owns 86,584 shares of the company’s stock worth $765,000 after buying an additional 41,078 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Bitdeer Technologies Group in the first quarter worth $1,168,000. Graham Capital Management L.P. purchased a new position in shares of Bitdeer Technologies Group in the first quarter worth $551,000. Finally, Harvest Portfolios Group Inc. lifted its holdings in shares of Bitdeer Technologies Group by 118.6% in the first quarter. Harvest Portfolios Group Inc. now owns 36,578 shares of the company’s stock worth $323,000 after buying an additional 19,846 shares in the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.