Monolith Management Ltd Invests $3.58 Million in Bitdeer Technologies Group (NASDAQ:BTDR)

Monolith Management Ltd acquired a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 165,000 shares of the company's stock, valued at approximately $3,576,000. Bitdeer Technologies Group comprises approximately 1.9% of Monolith Management Ltd's investment portfolio, making the stock its 16th largest position. Monolith Management Ltd owned about 0.15% of Bitdeer Technologies Group at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Yong Rong HK Asset Management Ltd acquired a new stake in Bitdeer Technologies Group during the 4th quarter worth $65,010,000. Trivest Advisors Ltd acquired a new stake in Bitdeer Technologies Group during the 4th quarter worth $48,481,000. Van ECK Associates Corp acquired a new position in Bitdeer Technologies Group in the fourth quarter valued at $29,125,000. Renaissance Technologies LLC increased its stake in Bitdeer Technologies Group by 3,558.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock valued at $26,876,000 after purchasing an additional 1,206,361 shares during the period. Finally, HCEP Management Ltd acquired a new position in Bitdeer Technologies Group in the fourth quarter valued at $11,551,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BTDR has been the topic of a number of recent research reports. Benchmark dropped their price objective on shares of 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. Roth Mkm restated a "buy" rating and issued a $23.50 price objective (down from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Needham & Company LLC dropped their price objective on shares of Bitdeer Technologies Group from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Northland Securities lifted 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. Finally, Keefe, Bruyette & Woods began coverage on shares of Bitdeer Technologies Group in a research note on Monday, January 27th. They issued an "outperform" rating and a $26.50 price objective on the stock. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $19.50.

Bitdeer Technologies Group Trading Down 3.0 %

Shares of BTDR traded down $0.30 during midday trading on Wednesday, reaching $9.55. 1,597,925 shares of the company were exchanged, compared to its average volume of 4,538,600. The stock has a 50-day moving average price of $9.69 and a 200-day moving average price of $13.59. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -18.37 and a beta of 2.25. Bitdeer Technologies Group has a 1-year low of $5.25 and a 1-year high of $26.99.

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.