Bitdeer Technologies Group (NASDAQ:BTDR) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lowered its holdings in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 32.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 218,555 shares of the company's stock after selling 105,360 shares during the quarter. Exchange Traded Concepts LLC owned about 0.20% of Bitdeer Technologies Group worth $4,736,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in Bitdeer Technologies Group in the third quarter valued at $66,000. Centiva Capital LP acquired a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $91,000. International Assets Investment Management LLC purchased a new position in Bitdeer Technologies Group during the 4th quarter worth approximately $308,000. Barclays PLC acquired a new position in Bitdeer Technologies Group during the third quarter worth approximately $161,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Bitdeer Technologies Group during the third quarter worth approximately $169,000. Institutional investors and hedge funds own 22.25% of the company's stock.

Bitdeer Technologies Group Trading Up 4.6 %

Shares of BTDR traded up $0.91 during mid-day trading on Friday, hitting $20.66. The company's stock had a trading volume of 6,864,979 shares, compared to its average volume of 6,884,898. Bitdeer Technologies Group has a 1-year low of $5.23 and a 1-year high of $26.99. The firm has a market capitalization of $2.31 billion, a P/E ratio of -39.73 and a beta of 2.09. The firm has a 50-day simple moving average of $18.78 and a 200 day simple moving average of $11.82.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BTDR. B. Riley increased their price objective on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, December 19th. 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 target for the company. Needham & Company LLC lifted their price objective on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Rosenblatt Securities reiterated a "buy" rating and set a $22.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, January 13th. Finally, Benchmark raised their price target on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Bitdeer Technologies Group has an average rating of "Buy" and an average price target of $21.00.

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.