Bitdeer Technologies Group (NASDAQ:BTDR) Position Increased by Vident Advisory LLC

Vident Advisory LLC lifted its stake in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 29.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,139,619 shares of the company's stock after purchasing an additional 260,649 shares during the period. Vident Advisory LLC owned about 1.02% of Bitdeer Technologies Group worth $24,696,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Yong Rong HK Asset Management Ltd acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth about $65,010,000. Trivest Advisors Ltd acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth about $48,481,000. Van ECK Associates Corp acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth about $29,125,000. Renaissance Technologies LLC raised its stake in 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 worth $26,876,000 after acquiring an additional 1,206,361 shares during the period. Finally, HCEP Management Ltd acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth about $11,551,000. Institutional investors own 22.25% of the company's stock.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ BTDR traded up $0.33 during mid-day trading on Thursday, reaching $15.08. 3,974,840 shares of the company traded hands, compared to its average volume of 4,890,035. Bitdeer Technologies Group has a fifty-two week low of $5.40 and a fifty-two week high of $26.99. The firm has a market cap of $1.69 billion, a PE ratio of -29.00 and a beta of 2.24. The stock has a fifty day simple moving average of $10.32 and a 200-day simple moving average of $14.08.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BTDR. Needham & Company LLC increased their price objective on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Roth Mkm restated a "buy" rating and issued a $23.50 price target (down previously from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Rosenblatt Securities raised their price target on shares of Bitdeer Technologies Group from $12.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Benchmark restated a "buy" rating and issued a $24.00 price target on shares of Bitdeer Technologies Group in a research note on Monday, May 12th. Finally, Keefe, Bruyette & Woods began coverage on shares of Bitdeer Technologies Group in a research note on Monday, January 27th. They issued an "outperform" rating and a $26.50 price target on the stock. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Bitdeer Technologies Group presently has a consensus rating of "Buy" and a consensus price target 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.