Bitdeer Technologies Group (NASDAQ:BTDR) Stock Position Increased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its position in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 216.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 692,420 shares of the company's stock after purchasing an additional 473,865 shares during the quarter. Exchange Traded Concepts LLC owned 0.62% of Bitdeer Technologies Group worth $6,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BTDR. Quarry LP acquired a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $42,000. SBI Securities Co. Ltd. acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at approximately $79,000. Wells Fargo & Company MN raised its position in shares of Bitdeer Technologies Group by 56.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock valued at $93,000 after purchasing an additional 1,540 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at approximately $116,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at approximately $171,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Bitdeer Technologies Group Stock Down 7.1%

BTDR stock traded down $0.90 during mid-day trading on Thursday, reaching $11.80. The company had a trading volume of 11,644,989 shares, compared to its average volume of 5,068,865. Bitdeer Technologies Group has a one year low of $5.40 and a one year high of $26.99. The stock has a market capitalization of $1.32 billion, a P/E ratio of -2.89 and a beta of 2.32. The stock's 50-day simple moving average is $12.02 and its two-hundred day simple moving average is $14.46.

Analyst Upgrades and Downgrades

BTDR has been the topic of a number of research analyst reports. Benchmark reiterated a "buy" rating and set a $24.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, May 12th. B. Riley increased their price target on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Needham & Company LLC upped their price objective on Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, May 16th. HC Wainwright reiterated a "buy" rating and issued a $21.00 target price (down previously from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a report on Monday. 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 company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $20.10.

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.