Monolith Management Ltd Makes New Investment in Bitdeer Technologies Group (NASDAQ:BTDR)

Monolith Management Ltd bought a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 165,000 shares of the company's stock, valued at approximately $3,576,000. Bitdeer Technologies Group makes up 1.9% of Monolith Management Ltd's investment portfolio, making the stock its 16th biggest position. Monolith Management Ltd owned approximately 0.15% of Bitdeer Technologies Group at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BTDR. Yong Rong HK Asset Management Ltd bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $65,010,000. Trivest Advisors Ltd bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $48,481,000. Van ECK Associates Corp bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $29,125,000. Renaissance Technologies LLC lifted its stake in shares of Bitdeer Technologies Group by 3,558.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock worth $26,876,000 after acquiring an additional 1,206,361 shares during the last quarter. Finally, HCEP Management Ltd bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $11,551,000. Hedge funds and other institutional investors own 22.25% of the company's stock.

Bitdeer Technologies Group Stock Performance

Bitdeer Technologies Group stock traded down $0.51 during trading on Monday, reaching $10.02. The company had a trading volume of 3,867,327 shares, compared to its average volume of 4,542,555. The firm's 50-day simple moving average is $9.89 and its 200 day simple moving average is $13.60. Bitdeer Technologies Group has a 1-year low of $5.25 and a 1-year high of $26.99. The firm has a market capitalization of $1.12 billion, a PE ratio of -19.27 and a beta of 2.25.

Wall Street Analyst Weigh In

BTDR has been the subject of a number of research analyst reports. Northland Securities raised their price target on 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 reduced their price objective 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. Needham & Company LLC reduced their price objective on Bitdeer Technologies Group from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Rosenblatt Securities reduced their price objective on Bitdeer Technologies Group from $25.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Roth Mkm restated a "buy" rating and set a $23.50 price objective (down from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Ten 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 stock has a consensus rating of "Buy" and a consensus target price 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.