Bitdeer Technologies Group $BTDR Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its holdings in Bitdeer Technologies Group (NASDAQ:BTDR) by 18.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 412,720 shares of the company’s stock after selling 95,826 shares during the period. Exchange Traded Concepts LLC owned about 0.19% of Bitdeer Technologies Group worth $4,627,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BTDR. Advisors Asset Management Inc. raised its holdings in shares of Bitdeer Technologies Group by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock worth $30,000 after purchasing an additional 1,044 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Bitdeer Technologies Group by 7,157.0% in the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after purchasing an additional 7,157 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Bitdeer Technologies Group during the 2nd quarter worth about $105,000. Wilmington Savings Fund Society FSB acquired a new stake in Bitdeer Technologies Group during the 3rd quarter worth about $159,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $191,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BTDR shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $14.00 price objective (down from $26.50) on shares of Bitdeer Technologies Group in a report on Tuesday, January 27th. Needham & Company LLC dropped their target price on Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Benchmark reduced their price target on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. BTIG Research reissued a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, January 16th. Finally, Zacks Research lowered Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a research report on Monday, March 16th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.60.

Bitdeer Technologies Group Trading Down 5.9%

Shares of Bitdeer Technologies Group stock opened at $7.88 on Tuesday. The firm has a 50-day simple moving average of $10.02 and a two-hundred day simple moving average of $13.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 0.91. Bitdeer Technologies Group has a fifty-two week low of $6.84 and a fifty-two week high of $27.80. The company has a market cap of $1.67 billion, a P/E ratio of -2.51 and a beta of 2.40.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.59). Bitdeer Technologies Group had a net margin of 10.58% and a return on equity of 8.92%. The business had revenue of $224.84 million during the quarter, compared to analysts’ expectations of $208.25 million. The business’s revenue was up 225.8% on a year-over-year basis. As a group, equities analysts predict that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Bitdeer Technologies Group Profile

Bitdeer Technologies Group Inc (NASDAQ:BTDR) is a global digital asset mining and computing services provider focused on delivering secure and efficient hashrate solutions to institutional and retail customers. The company leverages its proprietary mining platform to offer hosted mining, hashrate sales and management services, enabling clients to access large-scale mining operations without direct investment in hardware or infrastructure.

Bitdeer’s core offerings include mining hosting services, whereby the firm installs, operates and maintains specialized mining equipment on behalf of customers, and hashrate-as-a-service products that provide fixed-capacity mining power with transparent pricing structures.