Arrowstreet Capital Limited Partnership Purchases New Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Arrowstreet Capital Limited Partnership purchased a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 80,922 shares of the company's stock, valued at approximately $1,754,000. Arrowstreet Capital Limited Partnership owned approximately 0.07% of Bitdeer Technologies Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BTDR. Yong Rong HK Asset Management Ltd acquired a new position in Bitdeer Technologies Group during the 4th quarter valued at about $65,010,000. Trivest Advisors Ltd acquired a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at about $48,481,000. Van ECK Associates Corp acquired a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at about $29,125,000. FengHe Fund Management Pte. Ltd. purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $10,378,000. Finally, JPMorgan Chase & Co. acquired a new stake in Bitdeer Technologies Group in the 4th quarter worth approximately $8,833,000. Hedge funds and other institutional investors own 22.25% of the company's stock.

Bitdeer Technologies Group Price Performance

NASDAQ:BTDR traded down $0.20 during trading hours on Wednesday, reaching $7.01. The company had a trading volume of 2,189,301 shares, compared to its average volume of 4,357,263. Bitdeer Technologies Group has a 1-year low of $5.23 and a 1-year high of $26.99. The business's 50 day moving average price is $11.09 and its 200-day moving average price is $13.46. The firm has a market cap of $784.32 million, a PE ratio of -13.49 and a beta of 2.25.

Analyst Upgrades and Downgrades

BTDR has been the topic of a number of recent analyst reports. Needham & Company LLC cut their price target on shares of Bitdeer Technologies Group from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Roth Mkm reaffirmed a "buy" rating and set a $23.50 price target (down previously from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods started coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They issued an "outperform" rating and a $26.50 price objective on the stock. Rosenblatt Securities reduced their price objective on Bitdeer Technologies Group from $25.00 to $12.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Northland Securities upped their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an "outperform" rating in a research report on Friday, January 10th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $19.70.

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.