Bitdeer Technologies Group (NASDAQ:BTDR) Position Boosted by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 196.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,100,178 shares of the company's stock after buying an additional 728,804 shares during the period. Van ECK Associates Corp owned 0.99% of Bitdeer Technologies Group worth $10,848,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BTDR. Exchange Traded Concepts LLC increased its position in shares of Bitdeer Technologies Group by 83.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company's stock worth $5,265,000 after purchasing an additional 243,245 shares in the last quarter. EDBI Pte Ltd purchased a new position in shares of Bitdeer Technologies Group in the third quarter worth about $3,444,000. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Bitdeer Technologies Group during the fourth quarter worth about $1,199,000. Swiss National Bank purchased a new stake in Bitdeer Technologies Group during the 3rd quarter valued at about $604,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Bitdeer Technologies Group by 149.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company's stock worth $384,000 after buying an additional 23,310 shares in the last quarter. Institutional investors and hedge funds own 22.25% of the company's stock.

Bitdeer Technologies Group Stock Performance

Shares of BTDR traded up $0.10 during mid-day trading on Friday, hitting $5.74. 495,742 shares of the company's stock were exchanged, compared to its average volume of 1,652,974. The stock's 50-day moving average is $6.72 and its 200-day moving average is $6.45. Bitdeer Technologies Group has a fifty-two week low of $2.77 and a fifty-two week high of $14.65. The company has a market cap of $642.71 million, a price-to-earnings ratio of -13.48 and a beta of 1.79.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.15). The business had revenue of $114.85 million during the quarter. Bitdeer Technologies Group had a negative net margin of 15.37% and a negative return on equity of 7.34%. As a group, equities research analysts anticipate that Bitdeer Technologies Group will post -0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BTDR shares. Benchmark restated a "buy" rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a report on Monday, April 15th. Rosenblatt Securities started coverage on Bitdeer Technologies Group in a research report on Tuesday, April 9th. They issued a "buy" rating and a $10.50 target price on the stock. HC Wainwright reiterated a "buy" rating and set a $20.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, March 26th. BTIG Research assumed coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, March 13th. They issued a "buy" rating and a $15.00 target price on the stock. Finally, Roth Mkm assumed coverage on shares of Bitdeer Technologies Group in a research report on Thursday, February 29th. They set a "buy" rating and a $14.00 price target for the company. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Bitdeer Technologies Group presently has an average rating of "Buy" and a consensus price target of $13.64.

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.