Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down – Time to Sell?

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $10.15, but opened at $9.80. Bitdeer Technologies Group shares last traded at $10.04, with a volume of 359,850 shares trading hands.

Analyst Upgrades and Downgrades

BTDR has been the subject of several recent analyst reports. Keefe, Bruyette & Woods assumed coverage on Bitdeer Technologies Group in a research note on Monday, January 27th. They issued an “outperform” rating and a $26.50 price target for the company. Rosenblatt Securities decreased their target price on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Roth Mkm reaffirmed a “buy” rating and set a $23.50 price target (down previously from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Needham & Company LLC decreased their price objective on shares of Bitdeer Technologies Group from $18.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Finally, Northland Securities increased their price objective on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $21.00.

Bitdeer Technologies Group Stock Performance

The company has a market capitalization of $1.02 billion, a PE ratio of -17.58 and a beta of 2.12. The company’s fifty day moving average is $13.92 and its 200-day moving average is $13.35.

Institutional Trading of Bitdeer Technologies Group

Several hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new position in Bitdeer Technologies Group during the 4th quarter worth $42,000. Stonebridge Financial Group LLC bought a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at about $65,000. Public Employees Retirement System of Ohio purchased a new stake in Bitdeer Technologies Group in the third quarter worth about $66,000. SBI Securities Co. Ltd. bought a new position in Bitdeer Technologies Group during the 4th quarter worth about $79,000. Finally, Centiva Capital LP purchased a new position in Bitdeer Technologies Group during the 3rd quarter valued at about $91,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Company Profile

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.