Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Key Points

• Zurcher Kantonalbank significantly increased its position in Bitdeer Technologies Group, boosting its holdings by 182.4% in the first quarter, totaling 31,012 shares valued at $274,000.
• Several hedge funds have also increased their investments in Bitdeer, with notable increases such as 507.1% by SBI Securities Co. Ltd. and 111.4% by KLP Kapitalforvaltning AS during the same period.
• Analysts have a consensus rating of "Buy" for Bitdeer Technologies Group, with price targets ranging between $17.00 and $23.00 from various research firms.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 182.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,012 shares of the company's stock after acquiring an additional 20,030 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Bitdeer Technologies Group were worth $274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $8,833,000. Pictet Asset Management Holding SA purchased a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth $220,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth $1,754,000. Wells Fargo & Company MN raised its position in shares of Bitdeer Technologies Group by 56.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock worth $93,000 after buying an additional 1,540 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Bitdeer Technologies Group by 77.6% in the fourth quarter. Legal & General Group Plc now owns 27,794 shares of the company's stock worth $602,000 after buying an additional 12,143 shares in the last quarter. 22.25% of the stock is owned by institutional investors.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ BTDR traded up $0.40 during mid-day trading on Tuesday, hitting $13.19. 1,690,663 shares of the company's stock traded hands, compared to its average volume of 5,404,456. The company's 50-day moving average is $12.96 and its two-hundred day moving average is $12.36. The company has a market capitalization of $1.48 billion, a P/E ratio of -3.23 and a beta of 2.23. Bitdeer Technologies Group has a 1 year low of $5.40 and a 1 year high of $26.99.

Analyst Upgrades and Downgrades

BTDR has been the topic of a number of research reports. Rosenblatt Securities restated a "buy" rating and set a $20.00 price target on shares of Bitdeer Technologies Group in a research report on Monday, June 16th. Benchmark restated a "buy" rating and set a $24.00 price target on shares of Bitdeer Technologies Group in a research report on Monday, May 12th. B. Riley lowered their price target on Bitdeer Technologies Group from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, July 10th. Cantor Fitzgerald raised their price target on Bitdeer Technologies Group from $21.00 to $23.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bitdeer Technologies Group currently has a consensus rating of "Buy" and a consensus 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.