Lone Pine Capital LLC Has $21.38 Million Stock Holdings in Bitdeer Technologies Group (NASDAQ:BTDR)

Lone Pine Capital LLC cut its stake in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 24.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 986,717 shares of the company's stock after selling 311,248 shares during the period. Bitdeer Technologies Group accounts for about 0.2% of Lone Pine Capital LLC's investment portfolio, making the stock its 26th biggest holding. Lone Pine Capital LLC owned 0.88% of Bitdeer Technologies Group worth $21,382,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of BTDR. Quarry LP bought a new position in Bitdeer Technologies Group during the fourth quarter worth about $42,000. Stonebridge Financial Group LLC bought a new position in Bitdeer Technologies Group during the fourth quarter worth $65,000. SBI Securities Co. Ltd. acquired a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at $79,000. Wells Fargo & Company MN increased its holdings 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 valued at $93,000 after purchasing an additional 1,540 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth about $116,000. 22.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BTDR shares. Benchmark lowered their target price on Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC cut their price target on Bitdeer Technologies Group from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods assumed coverage on Bitdeer Technologies Group in a research note on Monday, January 27th. They set an "outperform" rating and a $26.50 price objective on the stock. HC Wainwright reissued a "buy" rating and set a $21.00 target price (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Finally, Northland Securities boosted their price target on 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 research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $19.50.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ BTDR traded up $0.79 during mid-day trading on Friday, hitting $10.97. 4,382,018 shares of the stock traded hands, compared to its average volume of 4,592,340. The firm has a 50 day simple moving average of $9.60 and a two-hundred day simple moving average of $13.60. Bitdeer Technologies Group has a twelve month low of $5.25 and a twelve month high of $26.99. The company has a market cap of $1.23 billion, a PE ratio of -21.10 and a beta of 2.25.

Bitdeer Technologies Group 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.