Renaissance Technologies LLC Raises Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Renaissance Technologies LLC increased its stake in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 3,558.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,240,261 shares of the company's stock after buying an additional 1,206,361 shares during the quarter. Renaissance Technologies LLC owned 1.11% of Bitdeer Technologies Group worth $26,876,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BTDR. Stonebridge Financial Group LLC purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $65,000. SBI Securities Co. Ltd. bought a new stake in Bitdeer Technologies Group during the fourth quarter worth $79,000. Wells Fargo & Company MN boosted its position in Bitdeer Technologies Group by 56.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock worth $93,000 after purchasing an additional 1,540 shares during the last quarter. Quantbot Technologies LP bought a new position in Bitdeer Technologies Group in the 4th quarter valued at $116,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at $171,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on BTDR. Needham & Company LLC cut their price target on shares of Bitdeer Technologies Group from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. 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 target price on the stock. Rosenblatt Securities reduced their target price on shares of Bitdeer Technologies Group from $25.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Northland Securities lifted their price target on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an "outperform" rating in a report on Friday, January 10th. Finally, Benchmark dropped their price objective 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. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $19.70.

Bitdeer Technologies Group Price Performance

Bitdeer Technologies Group stock traded up $0.24 during mid-day trading on Friday, hitting $7.62. The company's stock had a trading volume of 2,950,463 shares, compared to its average volume of 4,394,836. The stock has a market cap of $853.18 million, a price-to-earnings ratio of -14.65 and a beta of 2.25. Bitdeer Technologies Group has a 12 month low of $5.25 and a 12 month high of $26.99. The business has a 50 day moving average price of $10.71 and a 200-day moving average price of $13.41.

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.