Northern Trust Corp Makes New Investment in Bitdeer Technologies Group (NASDAQ:BTDR)

Northern Trust Corp purchased a new stake in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,504 shares of the company's stock, valued at approximately $813,000.

Several other institutional investors also recently modified their holdings of BTDR. Yong Rong HK Asset Management Ltd bought a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at $65,010,000. Trivest Advisors Ltd bought a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at $48,481,000. Van ECK Associates Corp purchased a new position in Bitdeer Technologies Group during the 4th quarter worth approximately $29,125,000. Renaissance Technologies LLC grew its position in Bitdeer Technologies Group by 3,558.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock worth $26,876,000 after purchasing an additional 1,206,361 shares in the last quarter. Finally, HCEP Management Ltd purchased a new position in Bitdeer Technologies Group during the 4th quarter worth approximately $11,551,000. Institutional investors own 22.25% of the company's stock.

Bitdeer Technologies Group Price Performance

Shares of BTDR stock traded up $0.15 on Tuesday, hitting $12.91. The company's stock had a trading volume of 3,036,931 shares, compared to its average volume of 4,984,639. Bitdeer Technologies Group has a fifty-two week low of $5.40 and a fifty-two week high of $26.99. The firm's fifty day moving average price is $10.98 and its 200-day moving average price is $14.39. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -24.83 and a beta of 2.24.

Analysts Set New Price Targets

Several equities analysts have weighed in on BTDR shares. Rosenblatt Securities lifted their price objective on shares of Bitdeer Technologies Group from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Benchmark reiterated a "buy" rating and set a $24.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, May 12th. B. Riley lifted their price objective 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. HC Wainwright reiterated a "buy" rating and set a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Finally, Needham & Company LLC boosted their price target on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $19.60.

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.