Vident Advisory LLC Boosts Stake in Bitdeer Technologies Group (NASDAQ:BTDR)

Vident Advisory LLC grew its stake in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 29.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,139,619 shares of the company's stock after acquiring an additional 260,649 shares during the quarter. Vident Advisory LLC owned 1.02% of Bitdeer Technologies Group worth $24,696,000 at the end of the most recent quarter.

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

Bitdeer Technologies Group Stock Performance

BTDR traded down $0.62 during trading on Friday, reaching $14.46. 3,099,536 shares of the company traded hands, compared to its average volume of 4,901,472. Bitdeer Technologies Group has a 12-month low of $5.40 and a 12-month high of $26.99. The firm has a fifty day simple moving average of $10.51 and a 200 day simple moving average of $14.18. The company has a market cap of $1.62 billion, a P/E ratio of -27.81 and a beta of 2.24.

Analyst Ratings Changes

A number of research firms recently issued reports on BTDR. Roth Mkm reissued a "buy" rating and issued a $23.50 price objective (down previously from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. HC Wainwright restated a "buy" rating and issued a $21.00 price target (down previously from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Wall Street Zen upgraded Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a research report on Thursday. Rosenblatt Securities upped their price target on Bitdeer Technologies Group from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, Keefe, Bruyette & Woods assumed coverage on Bitdeer Technologies Group in a research report on Monday, January 27th. They issued an "outperform" rating and a $26.50 price target for the company. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Bitdeer Technologies Group presently has an average rating of "Buy" and an average target price of $20.20.

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.