Scientech Research LLC Boosts Stock Position in Bitdeer Technologies Group $BTDR

Key Points

• Scientech Research LLC increased its stake in Bitdeer Technologies Group by 90.3%, acquiring an additional 41,078 shares to bring its total holdings to 86,584 shares worth approximately $765,000.
• Several institutional investors have also made significant investments in Bitdeer, including Cubist Systematic Strategies LLC and Capital Fund Management, with 22.25% of the stock now owned by institutional investors.
• Bitdeer Technologies Group currently has a market capitalization of $2.69 billion and has been assigned an average rating of "Buy" by analysts, with a target price of $20.80.

Scientech Research LLC lifted its holdings in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 90.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 86,584 shares of the company's stock after acquiring an additional 41,078 shares during the period. Scientech Research LLC owned approximately 0.08% of Bitdeer Technologies Group worth $765,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Bitdeer Technologies Group by 3.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,358 shares of the company's stock worth $636,000 after purchasing an additional 916 shares during the period. Stonebridge Financial Group LLC lifted its holdings in shares of Bitdeer Technologies Group by 33.3% during the first quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company's stock worth $35,000 after purchasing an additional 1,000 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Bitdeer Technologies Group by 14.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 9,600 shares of the company's stock worth $208,000 after purchasing an additional 1,200 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Bitdeer Technologies Group by 56.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock worth $93,000 after purchasing an additional 1,540 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Bitdeer Technologies Group during the first quarter worth about $55,000. Hedge funds and other institutional investors own 22.25% of the company's stock.

Analyst Ratings Changes

BTDR has been the subject of a number of research reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, August 19th. Benchmark reaffirmed a "buy" rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $23.00 target price on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Wall Street Zen downgraded Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Finally, HC Wainwright lifted their target price on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $20.80.

Bitdeer Technologies Group Stock Performance

NASDAQ:BTDR traded up $2.04 during trading hours on Friday, reaching $16.15. The company had a trading volume of 9,419,596 shares, compared to its average volume of 5,251,016. Bitdeer Technologies Group has a 1-year low of $6.34 and a 1-year high of $26.99. The firm has a market cap of $3.42 billion, a PE ratio of -3.44 and a beta of 2.23. The business's 50 day moving average price is $13.40 and its 200-day moving average price is $11.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.03 and a quick ratio of 0.84.

About Bitdeer Technologies Group

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.