Bitdeer Technologies Holding Co [BTDR] Is Currently 12.25 above its 200 Period Moving Avg: What Does This Mean?

Bitdeer Technologies Holding Co [NASDAQ: BTDR] gained 12.25% or 0.91 points to close at $8.34 with a heavy trading volume of 3373422 shares. The company report on March 18, 2024 at 10:00 AM that Bitdeer Announces Completion and Successful Validation of NVIDIA DGX SuperPOD H100 System.

“We are delighted to announce the early completion of our NVIDIA DGX SuperPOD deployment,” said Louis Xu, Director of Bitdeer’s AI Cloud. “As an NVIDIA Cloud Partner, our professional technical capabilities and close team collaboration have enabled us to quickly complete a series of processes such as procurement, deployment, testing, and verification, allowing us to launch the SuperPOD service ahead of schedule. This marks an important step for Bitdeer AI Cloud in providing advanced computing resources and services, meeting the growing needs of customers for high-performance computing (HPC) and artificial intelligence (AI) applications, and significantly promoting the rapid development of AI technology and applications.”.

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The daily chart for BTDR points out that the company has recorded -38.59% loss over the past six months.

If we look at the average trading volume of 2.17M shares, BTDR reached to a volume of 3373422 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Bitdeer Technologies Holding Co [BTDR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BTDR shares is $13.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BTDR stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Benchmark Company have made an estimate for Bitdeer Technologies Holding Co shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 14, 2024. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on March 13, 2024, representing the official price target for Bitdeer Technologies Holding Co stock. Previously, the target price had yet another raise to $9, while B. Riley Securities analysts kept a Buy rating on BTDR stock.

The Average True Range (ATR) for Bitdeer Technologies Holding Co is set at 0.99, with the Price to Sales ratio for BTDR stock in the period of the last 12 months amounting to 2.78. The Price to Book ratio for the last quarter was 2.91, with the Price to Cash per share for the same quarter was set at 1.30.

Trading performance analysis for BTDR stock

Bitdeer Technologies Holding Co [BTDR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.74. With this latest performance, BTDR shares gained by 16.32% in over the last four-week period, additionally sinking by -38.59% over the last 6 months – not to mention a drop of -22.20% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BTDR stock in for the last two-week period is set at 57.92, with the RSI for the last a single of trading hit 62.84, and the three-weeks RSI is set at 55.29 for Bitdeer Technologies Holding Co [BTDR]. The present Moving Average for the last 50 days of trading for this stock 7.24, while it was recorded at 7.53 for the last single week of trading, and 8.38 for the last 200 days.

An analysis of Institutional ownership at Bitdeer Technologies Holding Co [BTDR]

The top three institutional holders of BTDR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BTDR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BTDR stock with ownership which is approximately 5.8325%.