Bank of America Corp DE Increases Stake in Bitdeer Technologies Group (NASDAQ:BTDR)

Bank of America Corp DE increased its holdings in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 286.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,253 shares of the company's stock after acquiring an additional 54,314 shares during the period. Bank of America Corp DE owned approximately 0.07% of Bitdeer Technologies Group worth $1,587,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. FengHe Fund Management Pte. Ltd. purchased a new position in Bitdeer Technologies Group in the fourth quarter worth about $10,378,000. Renaissance Technologies LLC raised its holdings in Bitdeer Technologies Group by 3,558.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock worth $26,876,000 after buying an additional 1,206,361 shares during the last quarter. Yong Rong HK Asset Management Ltd purchased a new position in Bitdeer Technologies Group in the fourth quarter worth about $65,010,000. JPMorgan Chase & Co. purchased a new position in Bitdeer Technologies Group in the fourth quarter worth about $8,833,000. Finally, Northern Trust Corp purchased a new position in Bitdeer Technologies Group in the fourth quarter worth about $813,000. Institutional investors own 22.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $21.00 target price (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Benchmark reaffirmed a "buy" rating and issued a $24.00 target price on shares of Bitdeer Technologies Group in a report on Monday, May 12th. Rosenblatt Securities lifted their target price on shares of Bitdeer Technologies Group from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Wall Street Zen raised shares of Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Needham & Company LLC boosted their price objective on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Bitdeer Technologies Group has a consensus rating of "Buy" and an average price target of $19.60.

Bitdeer Technologies Group Trading Up 10.8%

BTDR stock traded up $1.36 during midday trading on Friday, reaching $13.99. 4,340,832 shares of the company's stock traded hands, compared to its average volume of 5,029,939. Bitdeer Technologies Group has a 52-week low of $5.40 and a 52-week high of $26.99. The stock has a market cap of $1.57 billion, a P/E ratio of -26.90 and a beta of 2.32. The stock's 50-day moving average is $11.24 and its 200 day moving average is $14.44.

Bitdeer Technologies Group Profile

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.