Charles Schwab Investment Management Inc. Buys 121,944 Shares of Bitdeer Technologies Group (NASDAQ:BTDR)

Charles Schwab Investment Management Inc. grew its stake in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 49.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 368,778 shares of the company's stock after buying an additional 121,944 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.33% of Bitdeer Technologies Group worth $7,991,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at $65,010,000. Van ECK Associates Corp acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at about $29,125,000. Mirabella Financial Services LLP acquired a new stake in shares of Bitdeer Technologies Group during the third quarter valued at about $5,872,000. FengHe Fund Management Pte. Ltd. bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth about $10,378,000. Finally, Geode Capital Management LLC increased its stake in shares of Bitdeer Technologies Group by 14.6% in the third quarter. Geode Capital Management LLC now owns 368,564 shares of the company's stock valued at $2,886,000 after buying an additional 46,968 shares during the period. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Trading Down 2.3 %

BTDR stock traded down $0.23 during mid-day trading on Thursday, reaching $9.92. The company's stock had a trading volume of 3,911,403 shares, compared to its average volume of 4,139,281. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -19.08 and a beta of 2.12. Bitdeer Technologies Group has a 12 month low of $5.23 and a 12 month high of $26.99. The business's 50 day moving average price is $14.39 and its 200 day moving average price is $13.35.

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Analysts Set New Price Targets

BTDR has been the topic of several recent research reports. Rosenblatt Securities cut their target price on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. 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 initiated coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They issued an "outperform" rating and a $26.50 price objective for the company. Benchmark cut their target price on Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Finally, Roth Mkm reiterated a "buy" rating and issued a $23.50 price target (down previously from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $21.00.

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.