BIT Capital GmbH Decreases Stock Position in Bitdeer Technologies Group (NASDAQ:BTDR)

BIT Capital GmbH decreased its position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 35.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 324,134 shares of the company's stock after selling 178,684 shares during the quarter. Bitdeer Technologies Group makes up approximately 0.6% of BIT Capital GmbH's portfolio, making the stock its 27th biggest position. BIT Capital GmbH owned 0.29% of Bitdeer Technologies Group worth $7,024,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth $65,000. Public Employees Retirement System of Ohio bought a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth about $66,000. SBI Securities Co. Ltd. acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $79,000. Centiva Capital LP bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $91,000. Finally, Quantbot Technologies LP acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth approximately $116,000. Institutional investors and hedge funds own 22.25% of the company's stock.

Wall Street Analysts Forecast Growth

BTDR has been the topic of a number of research analyst reports. Needham & Company LLC cut their price target on Bitdeer Technologies Group from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. Northland Securities increased their target price on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. Benchmark dropped their price objective on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Keefe, Bruyette & Woods initiated 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 on the stock. Finally, B. Riley boosted their target price on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $21.00.

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Bitdeer Technologies Group Stock Performance

NASDAQ:BTDR traded down $0.27 on Monday, hitting $8.87. The stock had a trading volume of 1,591,613 shares, compared to its average volume of 6,355,548. Bitdeer Technologies Group has a 1 year low of $5.23 and a 1 year high of $26.99. The firm's fifty day simple moving average is $13.92 and its two-hundred day simple moving average is $13.45. The stock has a market cap of $992.80 million, a P/E ratio of -17.04 and a beta of 2.12.

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.