DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Purchases New Stake in Bitdeer Technologies Group (NASDAQ:BTDR)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 40,520 shares of the company's stock, valued at approximately $878,000.

A number of other institutional investors also recently added to or reduced their stakes in BTDR. Yong Rong HK Asset Management Ltd acquired a new position in Bitdeer Technologies Group during the 4th quarter worth $65,010,000. Trivest Advisors Ltd acquired a new position in Bitdeer Technologies Group during the 4th quarter worth $48,481,000. Van ECK Associates Corp acquired a new position in Bitdeer Technologies Group during the 4th quarter worth $29,125,000. Renaissance Technologies LLC boosted its position in Bitdeer Technologies Group by 3,558.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock worth $26,876,000 after acquiring an additional 1,206,361 shares during the period. Finally, HCEP Management Ltd acquired a new position in Bitdeer Technologies Group during the 4th quarter worth $11,551,000. Institutional investors and hedge funds own 22.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Roth Mkm reiterated 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. Benchmark restated a "buy" rating and issued a $24.00 price objective on shares of Bitdeer Technologies Group in a report on Monday. HC Wainwright restated a "buy" rating and issued a $21.00 price objective (down previously from $22.00) on shares of Bitdeer Technologies Group in a 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 for the company. Finally, Rosenblatt Securities upped their price objective on Bitdeer Technologies Group from $12.00 to $15.00 and gave the company a "buy" rating in a report on Monday. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $19.80.

Bitdeer Technologies Group Stock Down 2.6%

Shares of NASDAQ BTDR traded down $0.36 during mid-day trading on Thursday, hitting $13.73. 8,965,143 shares of the company traded hands, compared to its average volume of 4,782,151. Bitdeer Technologies Group has a 1 year low of $5.28 and a 1 year high of $26.99. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -26.40 and a beta of 2.24. The business has a 50 day moving average of $9.86 and a two-hundred day moving average of $13.86.

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.