Geode Capital Management LLC Sells 57,962 Shares of Bitdeer Technologies Group (NASDAQ:BTDR)

Geode Capital Management LLC cut its stake in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 15.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 310,602 shares of the company's stock after selling 57,962 shares during the quarter. Geode Capital Management LLC owned approximately 0.28% of Bitdeer Technologies Group worth $6,731,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. FengHe Fund Management Pte. Ltd. acquired a new position in Bitdeer Technologies Group in the 4th quarter worth about $10,378,000. Barclays PLC acquired a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth approximately $161,000. Yong Rong HK Asset Management Ltd purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at approximately $65,010,000. JPMorgan Chase & Co. acquired a new stake in Bitdeer Technologies Group in the 4th quarter valued at $8,833,000. Finally, State Street Corp purchased a new stake in Bitdeer Technologies Group in the 3rd quarter worth $1,510,000. Hedge funds and other institutional investors own 22.25% of the company's stock.

Bitdeer Technologies Group Stock Down 2.8 %

NASDAQ:BTDR traded down $0.28 on Wednesday, reaching $9.57. The stock had a trading volume of 2,539,005 shares, compared to its average volume of 4,556,997. The stock has a fifty day moving average price of $9.62 and a 200-day moving average price of $13.56. Bitdeer Technologies Group has a 1-year low of $5.25 and a 1-year high of $26.99. The company has a market capitalization of $1.07 billion, a P/E ratio of -18.40 and a beta of 2.25.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BTDR shares. Keefe, Bruyette & Woods started coverage on shares of Bitdeer Technologies Group in a report on Monday, January 27th. They set an "outperform" rating and a $26.50 price objective on the stock. Rosenblatt Securities reduced their target price on Bitdeer Technologies Group from $25.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Benchmark reduced their price target on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. HC Wainwright restated a "buy" rating and issued a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Finally, Northland Securities upped their price objective on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $19.50.

Bitdeer Technologies Group Company 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.