Bitdeer Technologies Group (NASDAQ:BTDR) Trading Down 3.7% – Time to Sell?

Bitdeer Technologies Group (NASDAQ:BTDR)’s stock price traded down 3.7% during trading on Tuesday . The stock traded as low as $7.66 and last traded at $7.58. 241,136 shares were traded during mid-day trading, a decline of 94% from the average session volume of 4,338,257 shares. The stock had previously closed at $7.87.

Analyst Ratings Changes

BTDR has been the topic of several research analyst reports. Keefe, Bruyette & Woods assumed coverage on shares of Bitdeer Technologies Group in a report on Monday, January 27th. They issued an “outperform” rating and a $26.50 price target on the stock. HC Wainwright restated a “buy” rating and issued a $21.00 target price (down from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. B. Riley lifted their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Roth Mkm reissued a “buy” rating and set a $23.50 price objective (down previously from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Finally, Benchmark lowered their target price on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $19.70.

Bitdeer Technologies Group Stock Down 8.6 %

The firm has a market cap of $805.04 million, a P/E ratio of -13.83 and a beta of 2.25. The firm’s fifty day moving average is $11.28 and its two-hundred day moving average is $13.50.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in Bitdeer Technologies Group by 281.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock valued at $1,933,000 after purchasing an additional 182,110 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Bitdeer Technologies Group during the third quarter valued at $220,000. State Street Corp bought a new stake in Bitdeer Technologies Group in the 3rd quarter worth about $1,510,000. Y Intercept Hong Kong Ltd raised its position in Bitdeer Technologies Group by 96.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock worth $347,000 after buying an additional 21,798 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Bitdeer Technologies Group during the 3rd quarter valued at about $66,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.