Van ECK Associates Corp Invests $29.13 Million in Bitdeer Technologies Group (NASDAQ:BTDR)

Van ECK Associates Corp purchased a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,344,010 shares of the company's stock, valued at approximately $29,125,000. Van ECK Associates Corp owned about 1.20% of Bitdeer Technologies Group at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new position in Bitdeer Technologies Group in the 4th quarter valued at $65,000. Public Employees Retirement System of Ohio bought a new position in Bitdeer Technologies Group in the 3rd quarter valued at $66,000. Centiva Capital LP bought a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth $91,000. International Assets Investment Management LLC bought a new position in shares of Bitdeer Technologies Group in the 4th quarter worth $308,000. Finally, Barclays PLC bought a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth $161,000. 22.25% of the stock is currently owned by institutional investors.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ BTDR traded down $1.12 during trading on Tuesday, hitting $15.38. 3,062,258 shares of the company traded hands, compared to its average volume of 6,578,780. The business's fifty day moving average is $19.68 and its 200 day moving average is $12.58. Bitdeer Technologies Group has a fifty-two week low of $5.23 and a fifty-two week high of $26.99. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -29.69 and a beta of 2.04.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BTDR. Rosenblatt Securities raised their price target on Bitdeer Technologies Group from $22.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. 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 report on Friday, January 10th. Needham & Company LLC raised their price objective on Bitdeer Technologies Group from $14.00 to $22.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Benchmark raised their price objective on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods started coverage on Bitdeer Technologies Group in a research note on Monday, January 27th. They set an "outperform" rating and a $26.50 price objective on the stock. Eleven 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.com, Bitdeer Technologies Group has a consensus rating of "Buy" and an average target price of $22.23.

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.