Bitdeer Technologies Group (NASDAQ:BTDR) Shares Purchased by 1492 Capital Management LLC

1492 Capital Management LLC raised its holdings in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 82.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,539 shares of the company's stock after purchasing an additional 26,042 shares during the quarter. 1492 Capital Management LLC owned 0.05% of Bitdeer Technologies Group worth $508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Bitdeer Technologies Group by 3,558.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock valued at $26,876,000 after buying an additional 1,206,361 shares during the period. Vident Advisory LLC increased its stake in shares of Bitdeer Technologies Group by 29.7% during the fourth quarter. Vident Advisory LLC now owns 1,139,619 shares of the company's stock valued at $24,696,000 after buying an additional 260,649 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at $16,834,000. Exchange Traded Concepts LLC increased its stake in shares of Bitdeer Technologies Group by 216.8% during the first quarter. Exchange Traded Concepts LLC now owns 692,420 shares of the company's stock valued at $6,114,000 after buying an additional 473,865 shares during the period. Finally, HCEP Management Ltd purchased a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at $11,551,000. 22.25% of the stock is currently owned by institutional investors.

Bitdeer Technologies Group Trading Down 3.4%

Shares of BTDR stock traded down $0.52 during trading hours on Friday, reaching $14.64. 2,832,408 shares of the company's stock were exchanged, compared to its average volume of 5,516,938. Bitdeer Technologies Group has a 1 year low of $5.40 and a 1 year high of $26.99. The stock has a market cap of $1.64 billion, a PE ratio of -3.59 and a beta of 2.22. The stock's fifty day moving average price is $13.29 and its two-hundred day moving average price is $12.95.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BTDR. B. Riley cut their price target on Bitdeer Technologies Group from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, July 10th. Cantor Fitzgerald raised their price target on Bitdeer Technologies Group from $21.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Needham & Company LLC raised their price objective on Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Wall Street Zen raised Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, June 16th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $21.00.

Bitdeer Technologies Group Company 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.