SG Americas Securities LLC Invests $505,000 in Bitdeer Technologies Group (NASDAQ:BTDR)

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

A number of other institutional investors also recently added to or reduced their stakes in BTDR. Yong Rong HK Asset Management Ltd acquired a new position in shares of Bitdeer Technologies Group during the 4th quarter worth about $65,010,000. Valliance Asset Management Ltd purchased a new stake in Bitdeer Technologies Group during the fourth quarter worth approximately $217,000. Central Asset Investments & Management Holdings HK Ltd acquired a new position in Bitdeer Technologies Group in the fourth quarter valued at approximately $1,361,000. SBI Securities Co. Ltd. purchased a new position in Bitdeer Technologies Group in the fourth quarter valued at approximately $79,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Bitdeer Technologies Group by 49.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 368,778 shares of the company's stock valued at $7,991,000 after purchasing an additional 121,944 shares during the last quarter. Hedge funds and other institutional investors own 22.25% of the company's stock.

Bitdeer Technologies Group Trading Up 4.4%

Shares of BTDR traded up $0.47 during mid-day trading on Thursday, hitting $11.21. 6,794,828 shares of the company's stock were exchanged, compared to its average volume of 5,103,528. Bitdeer Technologies Group has a fifty-two week low of $5.40 and a fifty-two week high of $26.99. The business's 50 day moving average is $12.45 and its two-hundred day moving average is $14.21. The firm has a market capitalization of $1.26 billion, a P/E ratio of -2.75 and a beta of 2.32.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BTDR shares. Wall Street Zen upgraded shares of Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Needham & Company LLC lifted their price target on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Rosenblatt Securities restated a "buy" rating and issued a $20.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, June 16th. Roth Mkm reaffirmed a "buy" rating and set a $23.50 price objective (down previously from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Finally, B. Riley lifted their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $20.10.

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.