Bitdeer Technologies Group (NASDAQ:BTDR) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. reduced its stake in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 38.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,583 shares of the company’s stock after selling 20,739 shares during the period. Vontobel Holding Ltd.’s holdings in Bitdeer Technologies Group were worth $255,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BTDR. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of Bitdeer Technologies Group during the second quarter valued at approximately $272,000. XTX Topco Ltd purchased a new position in Bitdeer Technologies Group during the 2nd quarter worth approximately $276,000. Virtu Financial LLC purchased a new position in shares of Bitdeer Technologies Group during the first quarter valued at $431,000. Symmetry Investments LP acquired a new position in shares of Bitdeer Technologies Group in the 2nd quarter valued at about $432,000. Finally, Thomist Capital Management LP acquired a new position in Bitdeer Technologies Group in the 2nd quarter valued at approximately $1,156,000. 22.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BTDR has been the subject of a number of analyst reports. HC Wainwright reduced their target price on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Northland Capmk raised Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Alliance Global Partners started coverage on Bitdeer Technologies Group in a research note on Tuesday, October 8th. They set a “buy” rating and a $14.00 price target on the stock. Benchmark restated a “buy” rating and issued a $16.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. Finally, Roth Mkm reissued a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a report on Monday, July 1st. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $13.70.

Bitdeer Technologies Group Stock Down 5.9 %

BTDR opened at $7.72 on Thursday. The business has a 50 day moving average of $7.07 and a 200-day moving average of $7.62. Bitdeer Technologies Group has a 12-month low of $2.90 and a 12-month high of $14.27. The stock has a market cap of $864.38 million, a price-to-earnings ratio of -18.78 and a beta of 1.92.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). Bitdeer Technologies Group had a negative return on equity of 2.56% and a negative net margin of 5.69%. The business had revenue of $99.23 million for the quarter, compared to the consensus estimate of $110.79 million. As a group, analysts expect that Bitdeer Technologies Group will post -0.31 earnings per share for the current year.

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.