Geode Capital Management LLC Sells 57,962 Shares of Bitdeer Technologies Group (NASDAQ:BTDR)

Geode Capital Management LLC lowered its position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 15.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 310,602 shares of the company's stock after selling 57,962 shares during the quarter. Geode Capital Management LLC owned about 0.28% of Bitdeer Technologies Group worth $6,731,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in Bitdeer Technologies Group in the 4th quarter valued at $65,000. SBI Securities Co. Ltd. bought a new position in shares of Bitdeer Technologies Group in the fourth quarter worth $79,000. Quantbot Technologies LP acquired a new position in Bitdeer Technologies Group in the fourth quarter valued at about $116,000. KLP Kapitalforvaltning AS bought a new stake in Bitdeer Technologies Group during the fourth quarter worth about $171,000. Finally, WINTON GROUP Ltd acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth about $206,000. Institutional investors own 22.25% of the company's stock.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ:BTDR traded down $0.51 during midday trading on Monday, hitting $10.02. 3,867,327 shares of the stock were exchanged, compared to its average volume of 4,542,501. The business's 50-day moving average price is $9.89 and its 200 day moving average price is $13.60. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -19.27 and a beta of 2.25. Bitdeer Technologies Group has a 12 month low of $5.25 and a 12 month high of $26.99.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Roth Mkm restated a "buy" rating and issued a $23.50 target price (down from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Rosenblatt Securities lowered their price objective on shares of Bitdeer Technologies Group from $25.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Northland Securities raised their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an "outperform" rating in a report on Friday, January 10th. Needham & Company LLC lowered their price target on Bitdeer Technologies Group from $15.00 to $13.00 and set a "buy" rating for the company in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods assumed coverage on Bitdeer Technologies Group in a research note on Monday, January 27th. They issued an "outperform" rating and a $26.50 price objective on the stock. 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, the company presently has a consensus rating of "Buy" and a consensus price target of $19.50.

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.