Swiss National Bank Increases Stock Position in Bitdeer Technologies Group $BTDR

Key Points

• The Swiss National Bank increased its ownership in Bitdeer Technologies Group by 136.8%, acquiring an additional 97,300 shares, bringing its total to 168,400 shares valued at approximately $1.49 million.
• Several institutional investors, including Quarry LP and Deutsche Bank AG, have also made significant investments in Bitdeer, indicating growing institutional interest in the company.
• Bitdeer Technologies Group has received a mix of ratings from analysts, with consensus showing a "Buy" rating and a target price of $20.80 despite some downgrades from specific firms.

Swiss National Bank grew its position in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 136.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 168,400 shares of the company's stock after purchasing an additional 97,300 shares during the quarter. Swiss National Bank owned approximately 0.15% of Bitdeer Technologies Group worth $1,487,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BTDR. Stonebridge Financial Group LLC boosted its stake in shares of Bitdeer Technologies Group by 33.3% in the 1st quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company's stock valued at $35,000 after purchasing an additional 1,000 shares during the last quarter. Quarry LP bought a new position in Bitdeer Technologies Group during the fourth quarter worth $42,000. Wells Fargo & Company MN boosted its stake in 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 acquiring an additional 1,540 shares in the last quarter. KLP Kapitalforvaltning AS boosted its stake in Bitdeer Technologies Group by 111.4% during the first quarter. KLP Kapitalforvaltning AS now owns 16,700 shares of the company's stock worth $147,000 after acquiring an additional 8,800 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in Bitdeer Technologies Group by 507.1% during the first quarter. SBI Securities Co. Ltd. now owns 22,002 shares of the company's stock worth $194,000 after acquiring an additional 18,378 shares in the last quarter. 22.25% of the stock is owned by institutional investors.

Bitdeer Technologies Group Stock Up 4.5%

BTDR traded up $0.61 during trading on Friday, hitting $14.29. 5,550,386 shares of the company's stock were exchanged, compared to its average volume of 3,244,954. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. The business's 50 day moving average is $13.09 and its two-hundred day moving average is $12.06. Bitdeer Technologies Group has a fifty-two week low of $5.40 and a fifty-two week high of $26.99. The stock has a market cap of $1.60 billion, a P/E ratio of -3.04 and a beta of 2.23.

Wall Street Analysts Forecast Growth

BTDR has been the topic of several research analyst reports. Needham & Company LLC reissued a "buy" rating and set a $17.00 target price on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. B. Riley reissued a "buy" rating on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Rosenblatt Securities reissued a "buy" rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday, August 19th. Cantor Fitzgerald reissued an "overweight" rating and set a $23.00 target price on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Finally, Wall Street Zen lowered shares of Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $20.80.

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.