Bitdeer Technologies Group (NASDAQ:BTDR) Shares Sold by EDBI Pte Ltd

EDBI Pte Ltd trimmed its holdings in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 72.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 100,000 shares of the company’s stock after selling 257,263 shares during the quarter. Bitdeer Technologies Group comprises approximately 0.8% of EDBI Pte Ltd’s holdings, making the stock its 12th largest holding. EDBI Pte Ltd’s holdings in Bitdeer Technologies Group were worth $702,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Nomura Holdings Inc. purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $15,350,000. Van ECK Associates Corp boosted its stake in Bitdeer Technologies Group by 196.2% during the fourth quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock worth $10,848,000 after buying an additional 728,804 shares during the period. Exchange Traded Concepts LLC boosted its stake in Bitdeer Technologies Group by 83.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock worth $5,265,000 after buying an additional 243,245 shares during the period. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Bitdeer Technologies Group during the fourth quarter worth about $1,199,000. Finally, Swiss National Bank purchased a new position in Bitdeer Technologies Group during the third quarter worth about $604,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Stock Up 4.9 %

Shares of NASDAQ:BTDR opened at $10.26 on Monday. Bitdeer Technologies Group has a fifty-two week low of $2.77 and a fifty-two week high of $14.65. The firm’s 50 day moving average price is $7.01 and its 200 day moving average price is $7.32.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its earnings results on Monday, May 13th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). The business had revenue of $119.51 million for the quarter, compared to analysts’ expectations of $119.12 million. Bitdeer Technologies Group had a negative return on equity of 3.98% and a negative net margin of 11.21%. Analysts expect that Bitdeer Technologies Group will post -0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on BTDR shares. B. Riley started coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, March 12th. They set a “buy” rating and a $9.00 target price for the company. Rosenblatt Securities started coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, April 9th. They set a “buy” rating and a $10.50 target price for the company. Benchmark reaffirmed a “buy” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research report on Wednesday, May 15th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday, June 11th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $13.56.

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.