Voloridge Investment Management LLC Takes Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Voloridge Investment Management LLC bought a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 776,824 shares of the company's stock, valued at approximately $16,834,000. Voloridge Investment Management LLC owned approximately 0.69% of Bitdeer Technologies Group at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BTDR. Quarry LP bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth approximately $42,000. Stonebridge Financial Group LLC acquired a new position in Bitdeer Technologies Group in the 4th quarter worth $65,000. SBI Securities Co. Ltd. acquired a new position in Bitdeer Technologies Group in the 4th quarter worth $79,000. Wells Fargo & Company MN boosted its stake in Bitdeer Technologies Group by 56.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock worth $93,000 after purchasing an additional 1,540 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Bitdeer Technologies Group in the 4th quarter worth $116,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Stock Down 2.7%

BTDR traded down $0.41 during trading on Wednesday, reaching $14.59. 1,926,350 shares of the stock traded hands, compared to its average volume of 4,902,484. The stock has a market capitalization of $1.63 billion, a PE ratio of -28.00 and a beta of 2.24. The stock's 50-day moving average is $10.69 and its 200 day moving average is $14.30. Bitdeer Technologies Group has a 12 month low of $5.40 and a 12 month high of $26.99.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Benchmark reaffirmed a "buy" rating and issued a $24.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, May 12th. Needham & Company LLC increased their price objective 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 increased their price objective 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. HC Wainwright restated a "buy" rating and set a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Finally, Wall Street Zen upgraded shares of Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $20.20.

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.