Exchange Traded Concepts LLC Grows Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Exchange Traded Concepts LLC grew its stake in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 216.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 692,420 shares of the company's stock after acquiring an additional 473,865 shares during the period. Exchange Traded Concepts LLC owned about 0.62% of Bitdeer Technologies Group worth $6,114,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BTDR. Quarry LP bought a new position in Bitdeer Technologies Group in the 4th quarter valued at $42,000. SBI Securities Co. Ltd. bought a new stake in Bitdeer Technologies Group during the fourth quarter valued at approximately $79,000. Wells Fargo & Company MN grew its stake in Bitdeer Technologies Group by 56.4% in the 4th 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 in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at $116,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth $171,000. Hedge funds and other institutional investors own 22.25% of the company's stock.

Wall Street Analysts Forecast Growth

BTDR has been the topic of a number of research analyst reports. Roth Mkm restated a "buy" rating and set a $23.50 price target (down previously from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. B. Riley upped their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Needham & Company LLC increased their target price 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. Benchmark restated a "buy" rating and set a $24.00 price target on shares of Bitdeer Technologies Group in a research report on Monday, May 12th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. One investment 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's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $20.10.

Bitdeer Technologies Group Trading Down 6.3%

NASDAQ BTDR traded down $0.86 on Tuesday, hitting $12.70. The company's stock had a trading volume of 2,230,706 shares, compared to its average volume of 5,028,701. Bitdeer Technologies Group has a 52-week low of $5.40 and a 52-week high of $26.99. The company's 50-day simple moving average is $11.89 and its 200 day simple moving average is $14.50.

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.