Two Seas Capital LP Buys New Stake in Bitdeer Technologies Group (NASDAQ:BTDR)

Two Seas Capital LP acquired a new stake in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 433,028 shares of the company's stock, valued at approximately $9,384,000. Bitdeer Technologies Group accounts for 0.7% of Two Seas Capital LP's portfolio, making the stock its 17th biggest holding. Two Seas Capital LP owned about 0.39% of Bitdeer Technologies Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in Bitdeer Technologies Group in the 4th quarter worth approximately $42,000. Stonebridge Financial Group LLC bought a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at about $65,000. SBI Securities Co. Ltd. purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth about $79,000. Wells Fargo & Company MN increased its holdings in Bitdeer Technologies Group by 56.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock valued at $93,000 after purchasing an additional 1,540 shares during the period. Finally, Quantbot Technologies LP bought a new position in Bitdeer Technologies Group during the 4th quarter valued at approximately $116,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BTDR shares. Needham & Company LLC lifted their price objective on Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Rosenblatt Securities raised their target price on shares of Bitdeer Technologies Group from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Keefe, Bruyette & Woods initiated coverage on shares of Bitdeer Technologies Group in a research report on Monday, January 27th. They set an "outperform" rating and a $26.50 price target on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $21.00 price target (down from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $23.50 target price (down previously from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $20.20.

Bitdeer Technologies Group Trading Down 4.1%

BTDR traded down $0.62 during trading on Monday, hitting $14.46. 3,099,536 shares of the company's stock traded hands, compared to its average volume of 4,919,939. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -27.81 and a beta of 2.24. The company's 50 day simple moving average is $10.51 and its two-hundred day simple moving average is $14.26. Bitdeer Technologies Group has a 12-month low of $5.40 and a 12-month high of $26.99.

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.