Harvest Portfolios Group Inc. Raises Stock Position in Bitdeer Technologies Group $BTDR

Key Points

• Harvest Portfolios Group Inc. increased its stake in Bitdeer Technologies Group by 118.6%, acquiring an additional 19,846 shares to bring its total to 36,578 shares, valued at approximately $323,000.
• Several institutional investors, including SBI Securities Co. Ltd. and UBS Asset Management, have significantly boosted their positions in Bitdeer Technologies Group, indicating growing interest in the company.
• Analysts have set a consensus price target of $20.80 for Bitdeer Technologies Group, with ratings ranging from "Strong Buy" to "Sell," reflecting mixed sentiment among market observers.

Harvest Portfolios Group Inc. boosted its holdings in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 118.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,578 shares of the company's stock after acquiring an additional 19,846 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in Bitdeer Technologies Group were worth $323,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FengHe Fund Management Pte. Ltd. lifted 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 acquiring an additional 853,300 shares in the last quarter. Vident Advisory LLC raised its stake in Bitdeer Technologies Group by 29.7% during the 4th quarter. Vident Advisory LLC now owns 1,139,619 shares of the company's stock valued at $24,696,000 after buying an additional 260,649 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Bitdeer Technologies Group during the 4th quarter valued at $16,834,000. Capital Fund Management S.A. purchased a new stake in Bitdeer Technologies Group during the 1st quarter valued at $6,835,000. Finally, Exchange Traded Concepts LLC raised its stake in Bitdeer Technologies Group by 216.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 692,420 shares of the company's stock valued at $6,114,000 after buying an additional 473,865 shares during the last quarter. 22.25% of the stock is owned by institutional investors.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ:BTDR traded up $0.61 during midday trading on Monday, hitting $14.29. The company had a trading volume of 5,550,386 shares, compared to its average volume of 3,330,211. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.03 and a quick ratio of 0.84. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -3.04 and a beta of 2.23. Bitdeer Technologies Group has a 12-month low of $5.40 and a 12-month high of $26.99. The company has a fifty day moving average of $13.09 and a two-hundred day moving average of $12.03.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BTDR shares. Benchmark reiterated a "buy" rating on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. B. Riley reiterated a "buy" rating on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Rosenblatt Securities reiterated a "buy" rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday, August 19th. Wall Street Zen lowered shares of Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $17.00 target price on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $20.80.

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.