Polymer Capital Management US LLC Makes New Investment in Bitdeer Technologies Group (NASDAQ:BTDR)

Polymer Capital Management US LLC acquired a new position in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 150,000 shares of the company's stock, valued at approximately $3,250,000. Bitdeer Technologies Group accounts for 0.9% of Polymer Capital Management US LLC's investment portfolio, making the stock its 27th biggest holding. Polymer Capital Management US LLC owned 0.13% of Bitdeer Technologies Group at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BTDR. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at about $65,010,000. Trivest Advisors Ltd acquired a new stake in Bitdeer Technologies Group in the fourth quarter worth approximately $48,481,000. Van ECK Associates Corp bought a new position in Bitdeer Technologies Group during the fourth quarter valued at about $29,125,000. HCEP Management Ltd bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $11,551,000. Finally, FengHe Fund Management Pte. Ltd. bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth $10,378,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BTDR shares. Benchmark decreased their target price on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Rosenblatt Securities decreased their price target on shares of Bitdeer Technologies Group from $25.00 to $12.00 and set a "buy" rating for the company in a report on Thursday. B. Riley upped their target price on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods began coverage on Bitdeer Technologies Group in a research note on Monday, January 27th. They issued an "outperform" rating and a $26.50 target price for the company. Finally, Roth Mkm reaffirmed a "buy" rating and set a $23.50 price objective (down from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $19.70.

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Bitdeer Technologies Group Stock Performance

NASDAQ BTDR traded up $0.35 on Friday, hitting $7.95. 6,569,293 shares of the stock traded hands, compared to its average volume of 4,344,054. Bitdeer Technologies Group has a 12 month low of $5.23 and a 12 month high of $26.99. The business's fifty day moving average is $11.44 and its two-hundred day moving average is $13.47. The firm has a market capitalization of $890.13 million, a price-to-earnings ratio of -15.29 and a beta of 2.25.

About Bitdeer Technologies Group

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.