Millennium Management LLC Increases Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Millennium Management LLC lifted its holdings in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 901.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 410,359 shares of the company’s stock after acquiring an additional 369,363 shares during the quarter. Millennium Management LLC’s holdings in Bitdeer Technologies Group were worth $4,210,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of BTDR. Nomura Holdings Inc. purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth about $15,350,000. Van ECK Associates Corp grew its stake in Bitdeer Technologies Group by 10.5% in the first quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock worth $8,537,000 after purchasing an additional 115,882 shares in the last quarter. Vident Advisory LLC grew its stake in Bitdeer Technologies Group by 186.4% in the first quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock worth $6,098,000 after purchasing an additional 565,362 shares in the last quarter. Virtu Financial LLC acquired a new position in Bitdeer Technologies Group in the first quarter worth about $431,000. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new position in Bitdeer Technologies Group in the second quarter worth about $272,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Price Performance

Shares of BTDR opened at $7.57 on Friday. The firm’s 50 day moving average is $7.02 and its 200-day moving average is $7.56. Bitdeer Technologies Group has a 12-month low of $2.77 and a 12-month high of $14.27. The stock has a market capitalization of $847.61 million, a P/E ratio of -39.84 and a beta of 1.92.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BTDR. B. Riley decreased their price target on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday. Rosenblatt Securities reiterated a “buy” rating and issued a $9.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday. Benchmark restated a “buy” rating and issued a $16.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. Finally, HC Wainwright decreased their target price on Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Ten investment 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, Bitdeer Technologies Group has an average rating of “Buy” and a consensus target price of $13.70.

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.