Bitdeer Technologies Group (NASDAQ:BTDR) Sees Unusually-High Trading Volume – Here’s Why

Bitdeer Technologies Group (NASDAQ:BTDR) shares saw strong trading volume on Tuesday . 3,003,642 shares traded hands during trading, a decline of 2% from the previous session’s volume of 3,051,298 shares.The stock last traded at $22.31 and had previously closed at $20.52.

Analyst Ratings Changes

BTDR has been the subject of a number of recent research reports. Rosenblatt Securities lifted their price objective on Bitdeer Technologies Group from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Northland Capmk upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Northland Securities raised their price target on shares of Bitdeer Technologies Group from $14.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Benchmark increased their price objective on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, HC Wainwright increased their target price on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $19.80.

Bitdeer Technologies Group Trading Up 15.9 %

The company has a 50-day moving average price of $12.78 and a two-hundred day moving average price of $9.90. The stock has a market capitalization of $2.66 billion, a P/E ratio of -45.75 and a beta of 2.27.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently bought and sold shares of BTDR. Public Employees Retirement System of Ohio purchased a new stake in Bitdeer Technologies Group during the third quarter worth about $66,000. Centiva Capital LP purchased a new stake in Bitdeer Technologies Group in the 3rd quarter worth approximately $91,000. Barclays PLC bought a new position in Bitdeer Technologies Group in the 3rd quarter worth about $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth $169,000. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new stake in Bitdeer Technologies Group in the 2nd quarter worth approximately $272,000. 22.25% of the stock is 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.