Bitdeer Technologies Group $BTDR Shares Bought by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Bitdeer Technologies Group by 167.6%, acquiring an additional 302,548 shares to own a total of 483,022 shares valued at approximately $4.27 million.
• Several other institutional investors have also boosted their positions in Bitdeer Technologies, with 22.25% of the company's stock now owned by such investors and hedge funds.
• Analysts have mostly assigned a buy rating to Bitdeer Technologies Group, with an average target price of $20.80 per share.

Goldman Sachs Group Inc. grew its position in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 167.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 483,022 shares of the company's stock after acquiring an additional 302,548 shares during the quarter. Goldman Sachs Group Inc. owned about 0.43% of Bitdeer Technologies Group worth $4,265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Bitdeer Technologies Group by 3.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,358 shares of the company's stock valued at $636,000 after acquiring an additional 916 shares during the period. Stonebridge Financial Group LLC increased its stake in Bitdeer Technologies Group by 33.3% in the 1st quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company's stock worth $35,000 after buying an additional 1,000 shares during the period. Public Employees Retirement System of Ohio increased its stake in Bitdeer Technologies Group by 14.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 9,600 shares of the company's stock worth $208,000 after buying an additional 1,200 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Bitdeer Technologies Group in the 1st quarter worth about $55,000. Finally, Invesco Ltd. increased its stake in Bitdeer Technologies Group by 37.9% in the 1st quarter. Invesco Ltd. now owns 26,702 shares of the company's stock worth $236,000 after buying an additional 7,345 shares during the period. Hedge funds and other institutional investors own 22.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BTDR shares. HC Wainwright raised their price target on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. Cantor Fitzgerald reiterated an "overweight" rating and set a $23.00 target price on shares of Bitdeer Technologies Group in a report on Friday, August 15th. B. Riley reiterated a "buy" rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Benchmark reiterated a "buy" rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $20.80.

Bitdeer Technologies Group Stock Down 2.8%

Shares of NASDAQ:BTDR traded down $0.47 during trading on Friday, reaching $16.45. The stock had a trading volume of 5,865,192 shares, compared to its average volume of 4,713,266. Bitdeer Technologies Group has a one year low of $6.61 and a one year high of $26.99. The company has a market capitalization of $3.48 billion, a P/E ratio of -3.50 and a beta of 2.23. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12. The firm's 50-day simple moving average is $13.80 and its 200 day simple moving average is $12.22.

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.