Exchange Traded Concepts LLC Sells 125,144 Shares of Bitdeer Technologies Group (NASDAQ:BTDR)

Exchange Traded Concepts LLC cut its holdings in Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) by 27.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 323,915 shares of the company's stock after selling 125,144 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.29% of Bitdeer Technologies Group worth $2,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BTDR. Benchmark reiterated a "buy" rating and set a $16.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Northland Capmk raised Bitdeer Technologies Group to a "strong-buy" rating in a research report on Wednesday, October 9th. Roth Mkm reaffirmed a "buy" rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Monday, July 1st. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $9.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $13.70.

Bitdeer Technologies Group Price Performance

Bitdeer Technologies Group stock traded down $0.36 during mid-day trading on Tuesday, reaching $7.77. The stock had a trading volume of 2,440,368 shares, compared to its average volume of 1,986,600. Bitdeer Technologies Group has a one year low of $2.77 and a one year high of $14.27. The company has a 50-day moving average price of $7.03 and a two-hundred day moving average price of $7.58. The company has a market capitalization of $869.98 million, a price-to-earnings ratio of -18.95 and a beta of 1.92.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last issued its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.06). The firm had revenue of $99.23 million during the quarter, compared to the consensus estimate of $110.79 million. Bitdeer Technologies Group had a negative return on equity of 2.56% and a negative net margin of 5.69%. On average, equities research analysts anticipate that Bitdeer Technologies Group will post -0.31 earnings per share for the current fiscal year.

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.