Geode Capital Management LLC Increases Stake in Bitdeer Technologies Group (NASDAQ:BTDR)

Geode Capital Management LLC boosted its stake in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 14.6% in the 3rd quarter, Holdings Channel reports. The fund owned 368,564 shares of the company’s stock after buying an additional 46,968 shares during the period. Geode Capital Management LLC’s holdings in Bitdeer Technologies Group were worth $2,886,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of BTDR. Central Asset Investments & Management Holdings HK Ltd purchased a new position in Bitdeer Technologies Group during the second quarter valued at approximately $272,000. Thomist Capital Management LP acquired a new stake in Bitdeer Technologies Group in the second quarter valued at approximately $1,156,000. XTX Topco Ltd acquired a new stake in Bitdeer Technologies Group in the second quarter valued at approximately $276,000. Symmetry Investments LP acquired a new stake in Bitdeer Technologies Group in the second quarter valued at approximately $432,000. Finally, D1 Capital Partners L.P. acquired a new stake in Bitdeer Technologies Group in the second quarter valued at approximately $5,386,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BTDR. Northland Securities raised their price objective on Bitdeer Technologies Group from $14.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Rosenblatt Securities boosted their price target on shares of Bitdeer Technologies Group from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. HC Wainwright increased their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, B. Riley upped their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Bitdeer Technologies Group currently has a consensus rating of “Buy” and a consensus target price of $19.80.

Bitdeer Technologies Group Stock Down 15.4 %

NASDAQ:BTDR opened at $19.70 on Wednesday. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99. The stock’s fifty day moving average is $16.02 and its two-hundred day moving average is $10.99. The company has a market capitalization of $2.21 billion, a P/E ratio of -37.88 and a beta of 2.09.

Bitdeer Technologies Group Company 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.