Charles Schwab Investment Management Inc. Has $1.93 Million Stake in Bitdeer Technologies Group (NASDAQ:BTDR)

Charles Schwab Investment Management Inc. lifted its stake in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 281.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 246,834 shares of the company's stock after acquiring an additional 182,110 shares during the period. Charles Schwab Investment Management Inc. owned 0.22% of Bitdeer Technologies Group worth $1,933,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. D1 Capital Partners L.P. acquired a new position in Bitdeer Technologies Group in the 2nd quarter valued at $5,386,000. Marshall Wace LLP purchased a new stake in shares of Bitdeer Technologies Group in the second quarter valued at $5,074,000. Point72 Asset Management L.P. acquired a new position in Bitdeer Technologies Group in the second quarter valued at $4,617,000. Point72 Hong Kong Ltd purchased a new position in Bitdeer Technologies Group during the second quarter worth about $4,510,000. Finally, Millennium Management LLC lifted its position in Bitdeer Technologies Group by 901.0% during the second quarter. Millennium Management LLC now owns 410,359 shares of the company's stock worth $4,210,000 after buying an additional 369,363 shares during the period. Hedge funds and other institutional investors own 22.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Alliance Global Partners assumed coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. They set a "buy" rating and a $14.00 price objective for the company. B. Riley dropped their price target on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, October 11th. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Benchmark upped their price objective on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Finally, Northland Capmk raised Bitdeer Technologies Group to a "strong-buy" rating in a research report on Wednesday, October 9th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $18.60.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ:BTDR traded down $1.92 during midday trading on Tuesday, reaching $21.22. The company had a trading volume of 15,562,902 shares, compared to its average volume of 2,961,404. The company has a fifty day simple moving average of $11.79 and a two-hundred day simple moving average of $9.54. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -40.81 and a beta of 2.27. Bitdeer Technologies Group has a 1-year low of $5.23 and a 1-year high of $25.51.

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.