493,254 Shares in Bitdeer Technologies Group (NASDAQ:BTDR) Acquired by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd purchased a new stake in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 493,254 shares of the company's stock, valued at approximately $10,689,000. Point72 Hong Kong Ltd owned approximately 0.44% of Bitdeer Technologies Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Bitdeer Technologies Group by 3.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,358 shares of the company's stock valued at $636,000 after buying an additional 916 shares in the last quarter. GeoSphere Capital Management LLC acquired a new stake in Bitdeer Technologies Group in the 4th quarter valued at about $3,576,000. Fred Alger Management LLC acquired a new stake in Bitdeer Technologies Group in the 4th quarter valued at about $9,823,000. Deutsche Bank AG raised its holdings in Bitdeer Technologies Group by 173.7% in the 4th quarter. Deutsche Bank AG now owns 16,525 shares of the company's stock valued at $358,000 after acquiring an additional 10,488 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Bitdeer Technologies Group in the 4th quarter valued at about $878,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ:BTDR traded up $1.46 during mid-day trading on Friday, reaching $15.19. 5,288,730 shares of the company were exchanged, compared to its average volume of 4,835,062. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -29.21 and a beta of 2.24. The firm's 50-day simple moving average is $10.03 and its 200 day simple moving average is $13.97. Bitdeer Technologies Group has a 1 year low of $5.40 and a 1 year high of $26.99.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BTDR shares. Roth Mkm reiterated a "buy" rating and issued a $23.50 price objective (down previously from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. HC Wainwright reiterated a "buy" rating and issued a $21.00 price objective (down previously from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Benchmark reiterated a "buy" rating and issued a $24.00 price objective on shares of Bitdeer Technologies Group in a report on Monday, May 12th. Needham & Company LLC increased their price objective on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a "buy" rating in a report on Friday. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Bitdeer Technologies Group in a report on Monday, January 27th. They issued an "outperform" rating and a $26.50 price objective for the company. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $20.20.

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.