Two Seas Capital LP Takes $9.38 Million Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Two Seas Capital LP purchased a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 433,028 shares of the company's stock, valued at approximately $9,384,000. Bitdeer Technologies Group comprises about 0.8% of Two Seas Capital LP's investment portfolio, making the stock its 18th largest holding. Two Seas Capital LP owned approximately 0.39% of Bitdeer Technologies Group as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Soros Capital Management LLC acquired a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at approximately $6,863,000. 1492 Capital Management LLC acquired a new position in Bitdeer Technologies Group in the 4th quarter valued at $683,000. Renaissance Technologies LLC grew its holdings 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 purchasing an additional 1,206,361 shares in the last quarter. Legal & General Group Plc grew its stake in Bitdeer Technologies Group by 77.6% during the fourth quarter. Legal & General Group Plc now owns 27,794 shares of the company's stock worth $602,000 after buying an additional 12,143 shares in the last quarter. Finally, Polymer Capital Management US LLC bought a new position in Bitdeer Technologies Group in the 4th quarter valued at about $3,250,000. 22.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BTDR has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $21.00 price target (down previously from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Needham & Company LLC reduced their target price 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. Northland Securities lifted their price target on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Benchmark dropped their price objective on Bitdeer Technologies Group from $29.00 to $24.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Finally, Roth Mkm reiterated a "buy" rating and issued a $23.50 target price (down previously from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $19.50.

Bitdeer Technologies Group Price Performance

NASDAQ BTDR traded down $0.51 during trading hours on Monday, reaching $10.02. The company's stock had a trading volume of 3,867,327 shares, compared to its average volume of 4,542,555. The firm has a fifty day simple moving average of $9.89 and a 200-day simple moving average of $13.60. Bitdeer Technologies Group has a 52 week low of $5.25 and a 52 week high of $26.99. The stock has a market cap of $1.12 billion, a P/E ratio of -19.27 and a beta of 2.25.

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.