Graham Capital Management L.P. Purchases New Position in Bitdeer Technologies Group $BTDR

Key Points

• Graham Capital Management L.P. acquired 62,425 shares of Bitdeer Technologies Group, valued at approximately $551,000, representing about 0.06% ownership in the company.
• Bitdeer Technologies Group's stock currently holds an average rating of "Buy" with a consensus price target of $20.80 from multiple analysts.
• The company's stock opened at $12.35, with a 52-week range of $5.40 to $26.99, and a market capitalization of $1.38 billion.

Graham Capital Management L.P. bought a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 62,425 shares of the company's stock, valued at approximately $551,000. Graham Capital Management L.P. owned 0.06% of Bitdeer Technologies Group at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Vontobel Holding Ltd. bought a new position in Bitdeer Technologies Group in the 1st quarter worth $227,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Bitdeer Technologies Group by 118.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,254 shares of the company's stock worth $1,327,000 after buying an additional 33,182 shares in the last quarter. SG Americas Securities LLC bought a new stake in Bitdeer Technologies Group during the 1st quarter valued at approximately $505,000. SBI Securities Co. Ltd. grew its holdings in shares of Bitdeer Technologies Group by 507.1% during the 1st quarter. SBI Securities Co. Ltd. now owns 22,002 shares of the company's stock worth $194,000 after acquiring an additional 18,378 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of Bitdeer Technologies Group by 198.3% during the 1st quarter. Deutsche Bank AG now owns 49,301 shares of the company's stock worth $435,000 after acquiring an additional 32,776 shares during the period. Institutional investors own 22.25% of the company's stock.

Analyst Upgrades and Downgrades

BTDR has been the topic of several research reports. Needham & Company LLC restated a "buy" rating and set a $17.00 price target on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Benchmark reissued a "buy" rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, August 19th. HC Wainwright increased their price target on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $23.00 price objective on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $20.80.

Bitdeer Technologies Group Stock Up 3.4%

Shares of NASDAQ:BTDR traded up $0.47 on Thursday, hitting $14.11. 4,691,142 shares of the company traded hands, compared to its average volume of 3,641,583. Bitdeer Technologies Group has a 52 week low of $6.23 and a 52 week high of $26.99. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. The stock has a 50 day simple moving average of $13.40 and a 200-day simple moving average of $11.98. The company has a market cap of $2.99 billion, a PE ratio of -3.00 and a beta of 2.23.

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.