Bank of Nova Scotia Boosts Stock Holdings in Bitdeer Technologies Group $BTDR

Bank of Nova Scotia raised its holdings in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 91.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,369,447 shares of the company’s stock after buying an additional 652,874 shares during the period. Bank of Nova Scotia owned about 0.58% of Bitdeer Technologies Group worth $11,846,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BTDR. Fund Resources Investment Holding Group Co Ltd bought a new stake in Bitdeer Technologies Group in the fourth quarter valued at approximately $102,732,000. Bank of America Corp DE raised its holdings in Bitdeer Technologies Group by 67.5% during the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after buying an additional 2,553,093 shares during the last quarter. Value Aligned Research Advisors LLC boosted its position in Bitdeer Technologies Group by 137.0% during the 4th quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after buying an additional 1,888,825 shares during the period. Situational Awareness LP boosted its position in Bitdeer Technologies Group by 92.3% during the 4th quarter. Situational Awareness LP now owns 1,788,000 shares of the company’s stock valued at $20,043,000 after buying an additional 858,400 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Bitdeer Technologies Group by 100.1% in the 4th quarter. Van ECK Associates Corp now owns 1,694,193 shares of the company’s stock worth $18,992,000 after acquiring an additional 847,486 shares during the last quarter. 22.25% of the stock is owned by institutional investors.

Bitdeer Technologies Group Price Performance

NASDAQ BTDR opened at $11.56 on Monday. Bitdeer Technologies Group has a one year low of $6.92 and a one year high of $27.80. The stock has a 50-day moving average of $15.37 and a 200 day moving average of $12.54. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of -3.35 and a beta of 2.47.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative net margin of 68.11% and a negative return on equity of 69.95%. The company had revenue of $188.93 million for the quarter, compared to the consensus estimate of $184.02 million. During the same quarter in the prior year, the company posted ($0.37) EPS. Bitdeer Technologies Group’s revenue was up 169.5% on a year-over-year basis. On average, sell-side analysts forecast that Bitdeer Technologies Group will post -1.18 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BTDR shares. Needham & Company LLC raised their target price on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. B. Riley Financial increased their price target on shares of Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Citizens Jmp assumed coverage on Bitdeer Technologies Group in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 target price on the stock. Rosenblatt Securities increased their price target on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Cantor Fitzgerald increased their price target on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.45.

About Bitdeer Technologies Group

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.