Shariaportfolio Inc. Invests $1.04 Million in Bitdeer Technologies Group (NASDAQ:BTDR)

Shariaportfolio Inc. bought a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 132,732 shares of the company's stock, valued at approximately $1,039,000. Bitdeer Technologies Group comprises about 0.6% of Shariaportfolio Inc.'s investment portfolio, making the stock its 24th largest holding. Shariaportfolio Inc. owned 0.12% of Bitdeer Technologies Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Point72 Asset Management L.P. acquired a new position in Bitdeer Technologies Group during the second quarter worth $4,617,000. Millennium Management LLC increased 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 purchasing an additional 369,363 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Bitdeer Technologies Group during the second quarter worth about $4,510,000. Marshall Wace LLP acquired a new position in Bitdeer Technologies Group in the 2nd quarter valued at about $5,074,000. Finally, D1 Capital Partners L.P. acquired a new position in Bitdeer Technologies Group in the 2nd quarter valued at about $5,386,000. Institutional investors and hedge funds own 22.25% of the company's stock.

Bitdeer Technologies Group Trading Down 1.4 %

BTDR traded down $0.12 during trading hours on Tuesday, hitting $8.20. 1,525,087 shares of the company's stock were exchanged, compared to its average volume of 1,991,455. The firm has a market cap of $918.12 million, a P/E ratio of -20.00 and a beta of 1.92. Bitdeer Technologies Group has a 12-month low of $2.77 and a 12-month high of $14.27. The firm has a 50 day moving average of $7.07 and a 200 day moving average of $7.62.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last announced its quarterly earnings data 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). Bitdeer Technologies Group had a negative net margin of 5.69% and a negative return on equity of 2.56%. The company had revenue of $99.23 million during the quarter, compared to analyst estimates of $110.79 million. As a group, research analysts expect that Bitdeer Technologies Group will post -0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BTDR shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Alliance Global Partners started coverage on Bitdeer Technologies Group in a report on Tuesday, October 8th. They set a "buy" rating and a $14.00 price target for the company. 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. Northland Securities started coverage on shares of Bitdeer Technologies Group in a research note on Wednesday, October 9th. They set an "outperform" rating and a $13.00 target price for the company. Finally, Benchmark reissued a "buy" rating and issued a $16.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Bitdeer Technologies Group currently has an average rating of "Buy" and an average target price of $13.70.

About Bitdeer Technologies Group

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.