Point72 Hong Kong Ltd Invests $10.69 Million in Bitdeer Technologies Group (NASDAQ:BTDR)

Point72 Hong Kong Ltd bought a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 493,254 shares of the company's stock, valued at approximately $10,689,000. Point72 Hong Kong Ltd owned about 0.44% of Bitdeer Technologies Group at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. FengHe Fund Management Pte. Ltd. acquired a new position in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $10,378,000. Barclays PLC acquired a new position in shares of Bitdeer Technologies Group in the third quarter valued at approximately $161,000. Renaissance Technologies LLC grew its position in shares of 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 last quarter. Yong Rong HK Asset Management Ltd acquired a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at approximately $65,010,000. Finally, JPMorgan Chase & Co. acquired a new position in Bitdeer Technologies Group in the 4th quarter valued at $8,833,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BTDR has been the topic of a number of research reports. Benchmark reaffirmed a "buy" rating and issued a $24.00 price objective on shares of Bitdeer Technologies Group in a report on Monday, May 12th. Roth Mkm reaffirmed a "buy" rating and issued a $23.50 price objective (down from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Needham & Company LLC upped their price objective on Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a "buy" rating in a report on Friday. Keefe, Bruyette & Woods initiated coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They issued an "outperform" rating and a $26.50 price objective on the stock. Finally, HC Wainwright reaffirmed 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. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $20.20.

Bitdeer Technologies Group Stock Up 0.0%

Bitdeer Technologies Group stock traded up $0.00 during trading hours on Tuesday, hitting $15.32. The stock had a trading volume of 1,228,063 shares, compared to its average volume of 4,818,859. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -29.41 and a beta of 2.24. Bitdeer Technologies Group has a one year low of $5.40 and a one year high of $26.99. The business's 50 day simple moving average is $10.12 and its 200-day simple moving average is $14.06.

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.