Bitdeer Technologies Group $BTDR Stock Holdings Reduced by Vident Advisory LLC

Key Points

• Vident Advisory LLC has reduced its stake in Bitdeer Technologies Group by 39.9%, selling 454,605 shares and retaining 685,014 shares, valued at approximately $6,049,000.
• Several institutional investors have increased their holdings in Bitdeer, with Wells Fargo & Company boosting its stake by 56.4% during the fourth quarter.
• Analysts are generally optimistic about Bitdeer Technologies Group, with an average target price of $20.80 and ten analysts giving it a "Buy" rating.

Vident Advisory LLC lessened its holdings in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 39.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 685,014 shares of the company's stock after selling 454,605 shares during the period. Vident Advisory LLC owned about 0.61% of Bitdeer Technologies Group worth $6,049,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Stonebridge Financial Group LLC lifted its stake 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 purchasing an additional 1,000 shares during the last quarter. Quarry LP bought a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at $42,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Bitdeer Technologies Group during the first quarter valued at $55,000. Wells Fargo & Company MN raised its stake 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 valued at $93,000 after acquiring an additional 1,540 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its stake in shares of Bitdeer Technologies Group by 111.4% during the first quarter. KLP Kapitalforvaltning AS now owns 16,700 shares of the company's stock valued at $147,000 after acquiring an additional 8,800 shares during the last quarter. Institutional investors own 22.25% of the company's stock.

Bitdeer Technologies Group Stock Down 4.2%

Shares of BTDR stock traded down $0.55 on Thursday, reaching $12.71. 1,713,158 shares of the company's stock traded hands, compared to its average volume of 5,247,032. Bitdeer Technologies Group has a 12-month low of $5.40 and a 12-month high of $26.99. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 1.03. The company has a market capitalization of $1.42 billion, a P/E ratio of -2.71 and a beta of 2.23. The business's 50 day moving average price is $13.27 and its two-hundred day moving average price is $12.04.

Wall Street Analyst Weigh In

BTDR has been the subject of several recent analyst reports. Wall Street Zen cut shares of Bitdeer Technologies Group from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Cantor Fitzgerald reiterated an "overweight" rating and set a $23.00 price objective on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. B. Riley reiterated a "buy" rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Needham & Company LLC reiterated a "buy" rating and set a $17.00 price objective on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. Finally, Benchmark reiterated a "buy" rating on shares of Bitdeer Technologies Group in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target 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.