BNP Paribas Financial Markets Acquires Shares of 55,787 Bitdeer Technologies Group (NASDAQ:BTDR)

BNP Paribas Financial Markets acquired a new position in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 55,787 shares of the company's stock, valued at approximately $1,209,000.

Several other institutional investors have also bought and sold shares of BTDR. Yong Rong HK Asset Management Ltd acquired a new stake in Bitdeer Technologies Group in the fourth quarter worth about $65,010,000. Trivest Advisors Ltd acquired a new stake in Bitdeer Technologies Group in the fourth quarter worth about $48,481,000. Van ECK Associates Corp acquired a new stake in Bitdeer Technologies Group in the fourth quarter worth about $29,125,000. Renaissance Technologies LLC lifted its holdings in Bitdeer Technologies Group by 3,558.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock worth $26,876,000 after purchasing an additional 1,206,361 shares during the period. Finally, HCEP Management Ltd acquired a new stake in Bitdeer Technologies Group in the fourth quarter worth about $11,551,000. Institutional investors and hedge funds own 22.25% of the company's stock.

Bitdeer Technologies Group Trading Down 4.1%

BTDR stock traded down $0.62 during mid-day trading on Friday, reaching $14.46. 3,099,536 shares of the stock traded hands, compared to its average volume of 4,919,939. Bitdeer Technologies Group has a 52-week low of $5.40 and a 52-week high of $26.99. The company has a market cap of $1.62 billion, a P/E ratio of -27.81 and a beta of 2.24. The stock's fifty day moving average is $10.51 and its 200-day moving average is $14.26.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BTDR. Rosenblatt Securities upped their price objective on shares of Bitdeer Technologies Group from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Needham & Company LLC upped their price target on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a "buy" rating in a report on Friday, May 16th. Roth Mkm reissued a "buy" rating and issued a $23.50 price target (down from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Wall Street Zen raised shares of Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a report on Thursday. Finally, HC Wainwright reissued a "buy" rating and issued a $21.00 price target (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. One 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 stock. Based on data from MarketBeat, Bitdeer Technologies Group presently has a consensus rating of "Buy" and an average target price of $20.20.

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.