Point72 Asset Management L.P. Acquires Shares of 58,768 Bitdeer Technologies Group (NASDAQ:BTDR)

Point72 Asset Management L.P. acquired a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,768 shares of the company's stock, valued at approximately $1,274,000. Point72 Asset Management L.P. owned approximately 0.05% of Bitdeer Technologies Group at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BTDR. FengHe Fund Management Pte. Ltd. bought a new position in Bitdeer Technologies Group in the fourth quarter valued at about $10,378,000. Barclays PLC bought a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $161,000. Renaissance Technologies LLC lifted its holdings in shares of 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 valued at $26,876,000 after purchasing an additional 1,206,361 shares in the last quarter. Yong Rong HK Asset Management Ltd bought a new stake in Bitdeer Technologies Group in the 4th quarter valued at approximately $65,010,000. Finally, JPMorgan Chase & Co. bought a new stake in Bitdeer Technologies Group in the 4th quarter valued at approximately $8,833,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on BTDR. Needham & Company LLC boosted their target price on Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Wall Street Zen raised Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Benchmark reaffirmed a "buy" rating and set a $24.00 price target on shares of Bitdeer Technologies Group in a research report on Monday, May 12th. Rosenblatt Securities boosted their price target on Bitdeer Technologies Group from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $23.50 price target (down previously from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $20.20.

Bitdeer Technologies Group Stock Performance

Shares of Bitdeer Technologies Group stock traded up $0.38 on Tuesday, reaching $14.84. 1,279,844 shares of the company's stock were exchanged, compared to its average volume of 4,905,785. The company has a market capitalization of $1.66 billion, a P/E ratio of -28.54 and a beta of 2.24. Bitdeer Technologies Group has a 52 week low of $5.40 and a 52 week high of $26.99. The firm's 50-day moving average is $10.59 and its two-hundred day moving average is $14.29.

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.