Goldman Sachs Group Inc. Boosts Stake in Bitdeer Technologies Group $BTDR

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 shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 167.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 483,022 shares of the company's stock after purchasing an additional 302,548 shares during the quarter. Goldman Sachs Group Inc. owned about 0.43% of Bitdeer Technologies Group worth $4,265,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. FengHe Fund Management Pte. Ltd. raised its position in Bitdeer Technologies Group by 178.2% in the 1st quarter. FengHe Fund Management Pte. Ltd. now owns 1,332,200 shares of the company's stock valued at $11,763,000 after buying an additional 853,300 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth $16,834,000. Capital Fund Management S.A. purchased a new stake in shares of Bitdeer Technologies Group in the first quarter valued at about $6,835,000. Exchange Traded Concepts LLC lifted its position in shares of Bitdeer Technologies Group by 216.8% during the first quarter. Exchange Traded Concepts LLC now owns 692,420 shares of the company's stock valued at $6,114,000 after purchasing an additional 473,865 shares in the last quarter. Finally, Two Seas Capital LP purchased a new position in Bitdeer Technologies Group during the fourth quarter worth about $9,384,000. 22.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, September 15th. HC Wainwright upped their target price on Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a "buy" rating in a report on Monday, August 18th. Needham & Company LLC reiterated a "buy" rating and set a $17.00 price target on shares of Bitdeer Technologies Group in a report on Friday, August 15th. B. Riley reissued a "buy" rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Finally, Wall Street Zen lowered Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company's stock. Based on data from MarketBeat, Bitdeer Technologies Group presently has a consensus rating of "Buy" and an average target price of $20.80.

Bitdeer Technologies Group Price Performance

Shares of BTDR traded down $0.47 during mid-day trading on Friday, reaching $16.45. 5,865,192 shares of the stock traded hands, compared to its average volume of 4,608,198. The firm has a fifty day moving average price of $13.80 and a 200 day moving average price of $12.21. The company has a market cap of $3.48 billion, a price-to-earnings 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. Bitdeer Technologies Group has a 1 year low of $6.61 and a 1 year high of $26.99.

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.