Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down – Should You Sell?

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $20.54, but opened at $19.80. Bitdeer Technologies Group shares last traded at $19.04, with a volume of 747,666 shares.

Analysts Set New Price Targets

Several brokerages recently weighed in on BTDR. Benchmark lifted 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 report on Monday, December 9th. Northland Securities raised their price target on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, January 10th. HC Wainwright upped their price objective 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. B. Riley increased their target price on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Needham & Company LLC boosted their price target on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $21.00.

Bitdeer Technologies Group Price Performance

The stock has a market capitalization of $2.31 billion, a P/E ratio of -39.73 and a beta of 2.09. The stock’s fifty day moving average is $18.78 and its two-hundred day moving average is $11.82.

Institutional Investors Weigh In On Bitdeer Technologies Group

Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Bitdeer Technologies Group during the third quarter worth $66,000. Centiva Capital LP purchased a new position in Bitdeer Technologies Group in the 3rd quarter worth about $91,000. Barclays PLC acquired a new stake in Bitdeer Technologies Group during the 3rd quarter worth about $161,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Bitdeer Technologies Group during the third quarter valued at about $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Bitdeer Technologies Group in the third quarter worth about $220,000. 22.25% of the stock is owned by 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.