433,028 Shares in Bitdeer Technologies Group (NASDAQ:BTDR) Purchased by Two Seas Capital LP

Two Seas Capital LP acquired a new stake in Bitdeer Technologies Group (NASDAQ:BTDR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 433,028 shares of the company’s stock, valued at approximately $9,384,000. Bitdeer Technologies Group accounts for approximately 0.7% of Two Seas Capital LP’s holdings, making the stock its 17th largest position. Two Seas Capital LP owned about 0.39% of Bitdeer Technologies Group as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Yong Rong HK Asset Management Ltd bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at about $65,010,000. Trivest Advisors Ltd purchased a new stake in Bitdeer Technologies Group during the fourth quarter worth $48,481,000. Van ECK Associates Corp bought a new stake in Bitdeer Technologies Group during the 4th quarter valued at $29,125,000. Renaissance Technologies LLC increased its holdings in shares of 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 valued at $26,876,000 after acquiring an additional 1,206,361 shares during the period. Finally, Vident Advisory LLC raised its position in shares of Bitdeer Technologies Group by 29.7% in the 4th quarter. Vident Advisory LLC now owns 1,139,619 shares of the company’s stock worth $24,696,000 after acquiring an additional 260,649 shares in the last quarter. 22.25% of the stock is currently owned by institutional investors.

Bitdeer Technologies Group Price Performance

NASDAQ BTDR opened at $15.59 on Wednesday. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -29.98 and a beta of 2.24. The stock’s fifty day moving average price is $10.23 and its 200 day moving average price is $14.07. Bitdeer Technologies Group has a 1 year low of $5.40 and a 1 year high of $26.99.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Roth Mkm reiterated a “buy” rating and issued a $23.50 target price (down previously from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Rosenblatt Securities boosted their price objective on shares of Bitdeer Technologies Group from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Needham & Company LLC raised their target price on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Benchmark reaffirmed a “buy” rating and issued a $24.00 price target on shares of Bitdeer Technologies Group in a report on Monday, May 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $21.00 price objective (down previously from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock 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.