Victory Capital Management Inc. Takes $2.49 Million Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Key Points

• Victory Capital Management Inc. acquired a new stake in Bitdeer Technologies Group, buying 282,065 shares valued at approximately $2.49 million. This represents a 0.25% ownership of the company.
• Several institutional investors have increased their positions in Bitdeer, including Stonebridge Financial Group and Wells Fargo, with 22.25% of the stock now owned by such investors.
• The stock has shown significant volatility, trading between a 52-week low of $5.40 and a high of $26.99, with a current price around $14.18.

Victory Capital Management Inc. purchased a new stake in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 282,065 shares of the company's stock, valued at approximately $2,491,000. Victory Capital Management Inc. owned 0.25% of Bitdeer Technologies Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BTDR. Stonebridge Financial Group LLC grew its holdings in 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 buying an additional 1,000 shares during the period. Quarry LP purchased a new position in Bitdeer Technologies Group in the fourth quarter valued at approximately $42,000. Wells Fargo & Company MN raised its holdings 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 buying an additional 1,540 shares during the period. Quantbot Technologies LP purchased a new position in Bitdeer Technologies Group in the fourth quarter valued at approximately $116,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Bitdeer Technologies Group in the fourth quarter valued at approximately $171,000. Hedge funds and other institutional investors own 22.25% of the company's stock.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock traded down $0.42 during trading on Friday, hitting $12.47. The stock had a trading volume of 2,002,810 shares, compared to its average volume of 5,534,824. The firm has a market cap of $1.40 billion, a P/E ratio of -3.06 and a beta of 2.22. The business has a fifty day moving average of $13.15 and a two-hundred day moving average of $12.86. Bitdeer Technologies Group has a fifty-two week low of $5.40 and a fifty-two week high of $26.99.

Wall Street Analyst Weigh In

Several research firms recently commented on BTDR. Needham & Company LLC raised their price target on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a "buy" rating in a report on Friday, May 16th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 target price on shares of Bitdeer Technologies Group in a research report on Monday, June 16th. Cantor Fitzgerald boosted their price target on Bitdeer Technologies Group from $21.00 to $23.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. B. Riley lowered their price target on Bitdeer Technologies Group from $18.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, July 10th. Finally, Benchmark restated a "buy" rating and set a $24.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, May 12th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Bitdeer Technologies Group has a consensus rating of "Buy" and an average price target of $21.00.

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.