BIT Capital GmbH Sells 178,684 Shares of Bitdeer Technologies Group (NASDAQ:BTDR)

BIT Capital GmbH lessened its holdings in Bitdeer Technologies Group (NASDAQ:BTDR) by 35.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 324,134 shares of the company’s stock after selling 178,684 shares during the period. Bitdeer Technologies Group accounts for 0.6% of BIT Capital GmbH’s holdings, making the stock its 27th biggest position. BIT Capital GmbH owned about 0.29% of Bitdeer Technologies Group worth $7,024,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Yong Rong HK Asset Management Ltd bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth about $65,010,000. Trivest Advisors Ltd bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth approximately $48,481,000. Van ECK Associates Corp bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth approximately $29,125,000. FengHe Fund Management Pte. Ltd. acquired a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at approximately $10,378,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Bitdeer Technologies Group during the fourth quarter worth approximately $8,833,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Rosenblatt Securities reduced their price target on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Northland Securities upped their price target on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target (down from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Needham & Company LLC cut their price objective on shares of Bitdeer Technologies Group from $18.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Finally, B. Riley increased their target price on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $21.00.

Bitdeer Technologies Group Trading Down 7.6 %

Shares of Bitdeer Technologies Group stock opened at $10.15 on Thursday. The company has a market cap of $1.14 billion, a PE ratio of -19.52 and a beta of 2.12. The company has a 50 day moving average of $14.39 and a 200-day moving average of $13.35. Bitdeer Technologies Group has a 1-year low of $5.23 and a 1-year high of $26.99.

Bitdeer Technologies Group 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.