Neo Ivy Capital Management Buys New Holdings in Bitdeer Technologies Group $BTDR

Key Points

• Neo Ivy Capital Management bought 200,526 shares of Bitdeer (NASDAQ:BTDR) in Q3 — about $3.43 million — making BTDR its 23rd largest holding and representing roughly 0.09% ownership of the company.
• Other institutions also increased exposure (notably Geode Capital’s stake rose 197.7% to 1,592,504 shares, ~$18.3M), and about 22.25% of BTDR is currently owned by hedge funds and institutional investors.
• Analysts are broadly positive (10 Buys, 1 Hold, 1 Sell) with a consensus "Moderate Buy" and average target of $26.60, while the stock trades near $7 after a 6.9% drop following mixed results — revenue beat with +225.8% YoY growth but an EPS miss of ($0.73) versus ($0.14) expected.

Neo Ivy Capital Management purchased a new stake in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 200,526 shares of the company's stock, valued at approximately $3,427,000. Bitdeer Technologies Group accounts for 0.8% of Neo Ivy Capital Management's portfolio, making the stock its 23rd largest holding. Neo Ivy Capital Management owned approximately 0.09% of Bitdeer Technologies Group at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Great Lakes Advisors LLC purchased a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth about $1,355,000. Geode Capital Management LLC increased its position in Bitdeer Technologies Group by 197.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company's stock worth $18,280,000 after purchasing an additional 1,057,552 shares in the last quarter. Harvest Portfolios Group Inc. raised its holdings in Bitdeer Technologies Group by 76.3% in the second quarter. Harvest Portfolios Group Inc. now owns 64,469 shares of the company's stock valued at $740,000 after buying an additional 27,891 shares during the period. Highbridge Capital Management LLC purchased a new position in Bitdeer Technologies Group in the second quarter valued at approximately $3,255,000. Finally, Intech Investment Management LLC acquired a new position in Bitdeer Technologies Group during the second quarter valued at approximately $501,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BTDR has been the subject of several research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Bitdeer Technologies Group in a research note on Wednesday, January 21st. UBS Group reissued a "buy" rating on shares of Bitdeer Technologies Group in a research note on Thursday, February 12th. Benchmark reduced their target price on shares of Bitdeer Technologies Group from $38.00 to $27.00 and set a "buy" rating on the stock in a report on Tuesday, February 10th. BTIG Research reaffirmed a "buy" rating on shares of Bitdeer Technologies Group in a research report on Friday, January 16th. Finally, B. Riley Financial cut their price objective on Bitdeer Technologies Group from $32.00 to $29.00 and set a "buy" rating on the stock in a research report on Wednesday, November 12th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Bitdeer Technologies Group currently has a consensus rating of "Moderate Buy" and an average target price of $26.60.

Bitdeer Technologies Group Stock Down 6.9%

Shares of NASDAQ BTDR opened at $7.26 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 0.91. Bitdeer Technologies Group has a 1 year low of $6.84 and a 1 year high of $27.80. The stock's 50-day simple moving average is $11.43 and its 200-day simple moving average is $14.25. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -2.31 and a beta of 2.40.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.73) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.59). Bitdeer Technologies Group had a net margin of 10.58% and a return on equity of 8.92%. The business had revenue of $224.84 million during the quarter, compared to analysts' expectations of $208.25 million. Bitdeer Technologies Group's quarterly revenue was up 225.8% compared to the same quarter last year. As a group, equities analysts anticipate that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Bitdeer Technologies Group Profile

Bitdeer Technologies Group Inc NASDAQ: BTDR is a global digital asset mining and computing services provider focused on delivering secure and efficient hashrate solutions to institutional and retail customers. The company leverages its proprietary mining platform to offer hosted mining, hashrate sales and management services, enabling clients to access large-scale mining operations without direct investment in hardware or infrastructure.

Bitdeer’s core offerings include mining hosting services, whereby the firm installs, operates and maintains specialized mining equipment on behalf of customers, and hashrate-as-a-service products that provide fixed-capacity mining power with transparent pricing structures.

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