SBI Securities Co. Ltd. Grows Stock Holdings in Bitdeer Technologies Group (NASDAQ:BTDR)

SBI Securities Co. Ltd. raised its position in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 507.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,002 shares of the company's stock after buying an additional 18,378 shares during the period. SBI Securities Co. Ltd.'s holdings in Bitdeer Technologies Group were worth $194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Teacher Retirement System of Texas grew its stake in Bitdeer Technologies Group by 241.0% during the 1st quarter. Teacher Retirement System of Texas now owns 52,097 shares of the company's stock valued at $460,000 after acquiring an additional 36,819 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in Bitdeer Technologies Group during the 1st quarter valued at about $227,000. Stonebridge Financial Group LLC grew its stake in Bitdeer Technologies Group by 33.3% during the 1st quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company's stock valued at $35,000 after acquiring an additional 1,000 shares in the last quarter. Exchange Traded Concepts LLC grew 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 acquiring an additional 473,865 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Bitdeer Technologies Group during the 1st quarter valued at about $505,000. Hedge funds and other institutional investors own 22.25% of the company's stock.

Bitdeer Technologies Group Stock Down 0.4%

BTDR stock traded down $0.05 during midday trading on Friday, hitting $13.70. The company's stock had a trading volume of 5,338,980 shares, compared to its average volume of 5,251,158. Bitdeer Technologies Group has a 52-week low of $5.40 and a 52-week high of $26.99. The firm has a market capitalization of $1.53 billion, a P/E ratio of -3.36 and a beta of 2.22. The firm has a 50-day simple moving average of $13.27 and a 200-day simple moving average of $13.33.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BTDR. Rosenblatt Securities restated a "buy" rating and set a $20.00 price target on shares of Bitdeer Technologies Group in a report on Monday, June 16th. Benchmark restated a "buy" rating and set a $24.00 price target on shares of Bitdeer Technologies Group in a report on Monday, May 12th. B. Riley cut their price target on shares of Bitdeer Technologies Group from $18.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Needham & Company LLC raised their price target on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $21.00.

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.