Blueshift Asset Management LLC Takes $342,000 Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Key Points

• Blueshift Asset Management LLC made a new investment of approximately $342,000 in Bitdeer Technologies Group, acquiring 38,690 shares in the first quarter.
• Several institutional investors have significantly increased their holdings in Bitdeer Technologies Group, with Zurcher Kantonalbank boosting its stake by 182.4%.
• Bitdeer Technologies Group's stock has received mostly positive ratings from analysts, with a consensus rating of "Buy" and an average price target of $21.00.

Blueshift Asset Management LLC bought a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 38,690 shares of the company's stock, valued at approximately $342,000.

A number of other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in shares of Bitdeer Technologies Group by 3,558.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock valued at $26,876,000 after acquiring an additional 1,206,361 shares during the period. Vident Advisory LLC raised its stake in shares of Bitdeer Technologies Group by 29.7% in the 4th quarter. Vident Advisory LLC now owns 1,139,619 shares of the company's stock valued at $24,696,000 after acquiring an additional 260,649 shares during the period. Voloridge Investment Management LLC purchased a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $16,834,000. Exchange Traded Concepts LLC raised its stake in shares of Bitdeer Technologies Group by 216.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 692,420 shares of the company's stock valued at $6,114,000 after acquiring an additional 473,865 shares during the period. Finally, HCEP Management Ltd purchased a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $11,551,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock traded up $0.04 during trading hours on Thursday, hitting $13.01. The company had a trading volume of 211,222 shares, compared to its average volume of 5,451,354. The company's 50-day moving average is $13.00 and its two-hundred day moving average is $12.64. Bitdeer Technologies Group has a twelve month low of $5.40 and a twelve month high of $26.99. The company has a market cap of $1.46 billion, a P/E ratio of -3.18 and a beta of 2.23.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BTDR. B. Riley cut their target price on shares of 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 upped their target price on shares of Bitdeer Technologies Group from $21.00 to $23.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, June 16th. Wall Street Zen raised shares of Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Needham & Company LLC upped their target price 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. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bitdeer Technologies Group presently has an average rating of "Buy" and an average target price of $21.00.

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.