Knightsbridge Asset Management LLC Has $551,000 Stock Position in Bitdeer Technologies Group $BTDR

Key Points

• Knightsbridge Asset Management LLC reduced its stake in Bitdeer Technologies Group by 32.6% in Q1, selling 30,117 shares and holding a total of 62,396 shares valued at approximately $551,000.
• Wells Fargo & Company increased its stake in Bitdeer by 56.4%, while other institutional investors also significantly modified their holdings, indicating increased interest in the company.
• Bitdeer Technologies Group has received a consensus rating of "Buy" from analysts with a target price averaging $20.80, despite one firm downgrading it to a "sell" rating.

Knightsbridge Asset Management LLC trimmed its stake in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 32.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,396 shares of the company's stock after selling 30,117 shares during the quarter. Knightsbridge Asset Management LLC owned about 0.06% of Bitdeer Technologies Group worth $551,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wells Fargo & Company MN raised its position in shares of Bitdeer Technologies Group by 56.4% in the fourth 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. Northern Trust Corp bought a new position in Bitdeer Technologies Group in the 4th quarter valued at about $813,000. BNP Paribas Financial Markets bought a new position in Bitdeer Technologies Group in the 4th quarter valued at about $1,209,000. Bank of America Corp DE lifted its position in Bitdeer Technologies Group by 286.8% during the fourth quarter. Bank of America Corp DE now owns 73,253 shares of the company's stock worth $1,587,000 after acquiring an additional 54,314 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth approximately $878,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BTDR. Cantor Fitzgerald reiterated an "overweight" rating and set a $23.00 target price on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Benchmark reaffirmed a "buy" rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Wall Street Zen cut Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. HC Wainwright boosted their target price on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $17.00 price target on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. Based on data from MarketBeat, Bitdeer Technologies Group currently has an average rating of "Buy" and a consensus price target of $20.80.

Bitdeer Technologies Group Price Performance

Shares of BTDR stock traded up $1.76 during trading hours on Friday, reaching $15.87. The company's stock had a trading volume of 6,125,636 shares, compared to its average volume of 5,230,787. Bitdeer Technologies Group has a fifty-two week low of $6.34 and a fifty-two week high of $26.99. The firm's 50 day simple moving average is $13.40 and its 200-day simple moving average is $11.98. 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 company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -3.39 and a beta of 2.23.

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.