SG Americas Securities LLC Makes New Investment in Bitdeer Technologies Group (NASDAQ:BTDR)

SG Americas Securities LLC bought a new stake in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 57,220 shares of the company's stock, valued at approximately $505,000. SG Americas Securities LLC owned 0.05% of Bitdeer Technologies Group at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP bought a new position in Bitdeer Technologies Group during the 4th quarter valued at $42,000. SBI Securities Co. Ltd. acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $79,000. Wells Fargo & Company MN raised 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. Quantbot Technologies LP acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $116,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $171,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Rosenblatt Securities reissued a "buy" rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a report on Monday, June 16th. HC Wainwright reaffirmed a "buy" rating and issued a $21.00 price objective (down previously from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Roth Mkm reaffirmed a "buy" rating and issued a $23.50 price objective (down previously from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Benchmark reaffirmed a "buy" rating and issued a $24.00 price objective on shares of Bitdeer Technologies Group in a report on Monday, May 12th. Finally, B. Riley raised their target price on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $20.10.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ:BTDR traded up $0.07 during trading hours on Tuesday, hitting $10.98. 3,702,926 shares of the company's stock traded hands, compared to its average volume of 5,095,239. Bitdeer Technologies Group has a 52 week low of $5.40 and a 52 week high of $26.99. The company's fifty day simple moving average is $12.24 and its two-hundred day simple moving average is $14.33. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -2.69 and a beta of 2.32.

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.