BNP Paribas Financial Markets Acquires New Position in Bitdeer Technologies Group (NASDAQ:BTDR)

BNP Paribas Financial Markets bought a new position in Bitdeer Technologies Group (NASDAQ:BTDR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 55,787 shares of the company’s stock, valued at approximately $1,209,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FengHe Fund Management Pte. Ltd. bought a new position in Bitdeer Technologies Group in the 4th quarter worth about $10,378,000. Barclays PLC bought a new position in Bitdeer Technologies Group in the 3rd quarter worth about $161,000. Renaissance Technologies LLC grew its position in Bitdeer Technologies Group by 3,558.6% in 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 during the last quarter. Yong Rong HK Asset Management Ltd bought a new position in Bitdeer Technologies Group in the 4th quarter worth about $65,010,000. Finally, JPMorgan Chase & Co. bought a new position in Bitdeer Technologies Group in the 4th quarter worth about $8,833,000. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Trading Up 0.9%

Bitdeer Technologies Group stock opened at $15.32 on Tuesday. The company has a market capitalization of $1.72 billion, a P/E ratio of -29.46 and a beta of 2.24. The firm’s fifty day simple moving average is $10.12 and its 200-day simple moving average is $14.06. Bitdeer Technologies Group has a 1-year low of $5.40 and a 1-year high of $26.99.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BTDR shares. Rosenblatt Securities upped their target price on shares of Bitdeer Technologies Group from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Keefe, Bruyette & Woods assumed coverage on shares of Bitdeer Technologies Group in a report on Monday, January 27th. They issued an “outperform” rating and a $26.50 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Roth Mkm reiterated a “buy” rating and issued a $23.50 price objective (down from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Finally, Benchmark reiterated a “buy” rating and issued a $24.00 price objective on shares of Bitdeer Technologies Group in a report on Monday, May 12th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $20.20.

About Bitdeer Technologies Group

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.