Bitdeer Technologies Group (NASDAQ:BTDR) Shares Down 5.1%

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price dropped 5.1% during mid-day trading on Tuesday . The stock traded as low as $5.25 and last traded at $5.36. Approximately 323,475 shares were traded during 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

BTDR has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, March 26th. Needham & Company LLC started coverage on shares of Bitdeer Technologies Group in a research note on Monday. They issued a “buy” rating and a $14.00 price target on the stock. Roth Mkm assumed coverage on Bitdeer Technologies Group in a research report on Thursday, February 29th. They set a “buy” rating and a $14.00 price objective for the company. BTIG Research started coverage on Bitdeer Technologies Group in a report on Wednesday, March 13th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, B. Riley started coverage on Bitdeer Technologies Group in a research note on Tuesday, March 12th. They set a “buy” rating and a $9.00 price target for the company. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Bitdeer Technologies Group presently has a consensus rating of “Buy” and an average price target of $13.64.

Bitdeer Technologies Group Trading Down 3.5 %

The firm’s 50-day moving average price is $7.12 and its 200-day moving average price is $6.57. The stock has a market capitalization of $610.24 million, a PE ratio of -12.59 and a beta of 1.70.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Polar Asset Management Partners Inc. bought a new stake in Bitdeer Technologies Group in the second quarter worth $347,000. Exchange Traded Concepts LLC bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter worth about $2,803,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth about $150,000. EDBI Pte Ltd bought a new position in Bitdeer Technologies Group during the 3rd quarter valued at about $3,444,000. Finally, Barclays PLC bought a new position in Bitdeer Technologies Group during the 3rd quarter valued at about $49,000. Hedge funds and other institutional investors 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.