TENOR CAPITAL MANAGEMENT Co. L.P. Acquires New Stake in Bitdeer Technologies Group (NASDAQ:BTDR)

TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 133,600 shares of the company's stock, valued at approximately $2,895,000. TENOR CAPITAL MANAGEMENT Co. L.P. owned approximately 0.12% of Bitdeer Technologies Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FengHe Fund Management Pte. Ltd. bought a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at about $10,378,000. Barclays PLC bought a new position in Bitdeer Technologies Group in the third quarter valued at approximately $161,000. Renaissance Technologies LLC boosted its holdings in shares of Bitdeer Technologies Group by 3,558.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock valued at $26,876,000 after buying an additional 1,206,361 shares during the period. Yong Rong HK Asset Management Ltd bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $65,010,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $8,833,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on BTDR. Keefe, Bruyette & Woods began coverage on shares of Bitdeer Technologies Group in a research report on Monday, January 27th. They issued an "outperform" rating and a $26.50 price objective on the stock. HC Wainwright restated a "buy" rating and issued a $21.00 price target (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Rosenblatt Securities raised their price target on shares of Bitdeer Technologies Group from $12.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Benchmark reissued a "buy" rating and issued a $24.00 price objective on shares of Bitdeer Technologies Group in a research report on Monday, May 12th. Finally, Wall Street Zen upgraded shares of Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a report on Thursday. One 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. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $20.20.

Bitdeer Technologies Group Price Performance

BTDR stock traded up $0.33 during trading on Thursday, reaching $15.08. 3,974,212 shares of the company were exchanged, compared to its average volume of 4,873,219. The company has a 50-day moving average of $10.32 and a two-hundred day moving average of $14.08. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -29.00 and a beta of 2.24. Bitdeer Technologies Group has a twelve month low of $5.40 and a twelve month high of $26.99.

Bitdeer Technologies Group 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.