10 Firms Post Impressive Gains on Tuesday

3. Bitdeer Technologies Group (BTDR)

Bitdeer Technologies (BTDR) jumped by 11.28 percent on Tuesday to end at $19.04 each after investment banking firm Needham & Company LLC raised its price target for the company by 57 percent to $22 from $14 earlier, while giving it a “buy” rating.

The update was based on refreshed expectations for machine manufacturing sales. It also increased its valuation multiple on growing confidence in Bitdeer’s high-performance compute opportunities.

Earlier this month, Bitdeer also earned a bullish outlook from Roth MKM, with a “buy” rating and a $29 price target.

Bitdeer, a $4-billion heavyweight in Bitcoin mining, rallied in line with higher Bitcoin prices, which as of Tuesday touched the $97,000 level.