Scientech Research LLC Acquires 41,078 Shares of 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 raised its position in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 90.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,584 shares of the company's stock after purchasing an additional 41,078 shares during the quarter. Scientech Research LLC owned 0.08% of Bitdeer Technologies Group worth $765,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BTDR. Wells Fargo & Company MN raised its position in Bitdeer Technologies Group by 56.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock valued at $93,000 after purchasing an additional 1,540 shares during the last quarter. Northern Trust Corp bought a new position in Bitdeer Technologies Group in the fourth quarter valued at about $813,000. BNP Paribas Financial Markets bought a new position in Bitdeer Technologies Group in the fourth quarter valued at about $1,209,000. Bank of America Corp DE raised its position in Bitdeer Technologies Group by 286.8% in the fourth quarter. Bank of America Corp DE now owns 73,253 shares of the company's stock valued at $1,587,000 after purchasing an additional 54,314 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Bitdeer Technologies Group in the fourth quarter valued at about $878,000. 22.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on BTDR. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, August 19th. B. Riley restated a "buy" rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Benchmark restated a "buy" rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. HC Wainwright raised their price objective on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Monday, August 18th. Finally, Wall Street Zen downgraded Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $20.80.

Bitdeer Technologies Group Trading Up 14.5%

BTDR stock traded up $2.04 during mid-day trading on Friday, reaching $16.15. The company's stock had a trading volume of 9,420,408 shares, compared to its average volume of 4,096,924. The company has a market cap of $3.42 billion, a price-to-earnings ratio of -3.44 and a beta of 2.23. The business's 50 day moving average price is $13.45 and its 200 day moving average price is $12.04. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12. Bitdeer Technologies Group has a 12 month low of $6.34 and a 12 month high of $26.99.

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.