Geode Capital Management LLC Raises Stock Position in Bitdeer Technologies Group $BTDR

Geode Capital Management LLC raised its holdings in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 197.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,592,504 shares of the company’s stock after acquiring an additional 1,057,552 shares during the quarter. Geode Capital Management LLC owned approximately 1.42% of Bitdeer Technologies Group worth $18,280,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BTDR. Amalgamated Bank purchased a new stake in shares of Bitdeer Technologies Group during the second quarter worth about $35,000. Caitong International Asset Management Co. Ltd bought a new position in Bitdeer Technologies Group in the 1st quarter worth approximately $55,000. Y Intercept Hong Kong Ltd purchased a new stake in Bitdeer Technologies Group during the 2nd quarter valued at approximately $129,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Bitdeer Technologies Group during the second quarter valued at approximately $207,000. Finally, ProShare Advisors LLC purchased a new position in shares of Bitdeer Technologies Group in the second quarter worth $211,000. Institutional investors own 22.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BTDR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, October 8th. BTIG Research reissued a “buy” rating and set a $25.00 price objective on shares of Bitdeer Technologies Group in a report on Wednesday, November 26th. Needham & Company LLC lifted their target price on Bitdeer Technologies Group from $17.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. HC Wainwright decreased their target price on Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Finally, Benchmark reissued a “buy” rating on shares of Bitdeer Technologies Group in a research note on Monday, October 20th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Bitdeer Technologies Group currently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ:BTDR opened at $13.43 on Monday. The firm has a fifty day simple moving average of $18.28 and a two-hundred day simple moving average of $15.19. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2.84 billion, a P/E ratio of -2.39 and a beta of 2.28. Bitdeer Technologies Group has a 52 week low of $6.84 and a 52 week high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings results on Monday, November 10th. The company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.06). The business had revenue of $169.71 million during the quarter, compared to the consensus estimate of $151.80 million. Bitdeer Technologies Group had a negative net margin of 115.59% and a negative return on equity of 91.31%. The firm’s revenue was up 173.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.35) EPS. On average, analysts expect that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

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.