Arrowstreet Capital Limited Partnership Takes $1.75 Million Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Arrowstreet Capital Limited Partnership purchased a new stake in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 80,922 shares of the company's stock, valued at approximately $1,754,000. Arrowstreet Capital Limited Partnership owned approximately 0.07% of Bitdeer Technologies Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of BTDR. Yong Rong HK Asset Management Ltd bought a new position in shares of Bitdeer Technologies Group during the fourth quarter worth approximately $65,010,000. Trivest Advisors Ltd acquired a new position in Bitdeer Technologies Group in the 4th quarter valued at $48,481,000. Van ECK Associates Corp bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at $29,125,000. FengHe Fund Management Pte. Ltd. acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth $10,378,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Bitdeer Technologies Group in the fourth quarter worth $8,833,000. 22.25% of the stock is owned by institutional investors.

Bitdeer Technologies Group Trading Down 8.1 %

NASDAQ:BTDR traded down $0.64 during mid-day trading on Tuesday, hitting $7.23. 2,765,091 shares of the company's stock were exchanged, compared to its average volume of 4,347,138. Bitdeer Technologies Group has a fifty-two week low of $5.23 and a fifty-two week high of $26.99. The firm has a market capitalization of $809.51 million, a P/E ratio of -13.90 and a beta of 2.25. The company has a 50 day simple moving average of $11.28 and a 200-day simple moving average of $13.50.

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Analysts Set New Price Targets

Several research firms recently weighed in on BTDR. Keefe, Bruyette & Woods started coverage on shares of Bitdeer Technologies Group in a research report on Monday, January 27th. They set an "outperform" rating and a $26.50 price objective for the company. Roth Mkm reissued a "buy" rating and issued a $23.50 price objective (down from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Benchmark lowered their price objective on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Rosenblatt Securities reduced their target price on Bitdeer Technologies Group from $25.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Northland Securities upped their price objective on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $19.70.

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.