Two Seas Capital LP Makes New Investment in Bitdeer Technologies Group (NASDAQ:BTDR)

Two Seas Capital LP bought a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 433,028 shares of the company's stock, valued at approximately $9,384,000. Bitdeer Technologies Group accounts for 0.8% of Two Seas Capital LP's investment portfolio, making the stock its 18th biggest position. Two Seas Capital LP owned about 0.39% of Bitdeer Technologies Group at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BTDR. Soros Capital Management LLC bought a new position in Bitdeer Technologies Group during the fourth quarter valued at approximately $6,863,000. 1492 Capital Management LLC bought a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $683,000. Renaissance Technologies LLC lifted its position in shares of Bitdeer Technologies Group by 3,558.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock worth $26,876,000 after purchasing an additional 1,206,361 shares during the period. Legal & General Group Plc lifted its holdings in shares of Bitdeer Technologies Group by 77.6% during the fourth quarter. Legal & General Group Plc now owns 27,794 shares of the company's stock valued at $602,000 after purchasing an additional 12,143 shares during the last quarter. Finally, Polymer Capital Management US LLC bought a new position in Bitdeer Technologies Group during the 4th quarter valued at approximately $3,250,000. Hedge funds and other institutional investors own 22.25% of the company's stock.

Analyst Ratings Changes

BTDR has been the topic of several recent analyst reports. Roth Mkm reiterated a "buy" rating and set a $23.50 target price (down from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Rosenblatt Securities lowered their target price on shares of Bitdeer Technologies Group from $25.00 to $12.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. HC Wainwright reiterated a "buy" rating and set a $21.00 price objective (down previously from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Northland Securities lifted their price objective on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an "outperform" rating in a research report on Friday, January 10th. Finally, Needham & Company LLC decreased their price target on Bitdeer Technologies Group from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, April 21st. 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 $19.50.

Bitdeer Technologies Group Price Performance

Shares of BTDR stock traded down $0.34 during mid-day trading on Wednesday, hitting $9.51. The stock had a trading volume of 1,479,085 shares, compared to its average volume of 4,538,303. Bitdeer Technologies Group has a fifty-two week low of $5.25 and a fifty-two week high of $26.99. The company's 50-day simple moving average is $9.69 and its 200-day simple moving average is $13.59. The firm has a market cap of $1.06 billion, a PE ratio of -18.29 and a beta of 2.25.

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.