Knightsbridge Asset Management LLC Trims Holdings in Bitdeer Technologies Group $BTDR

Knightsbridge Asset Management LLC reduced its holdings in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 32.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,396 shares of the company’s stock after selling 30,117 shares during the quarter. Knightsbridge Asset Management LLC’s holdings in Bitdeer Technologies Group were worth $551,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC lifted its stake in Bitdeer Technologies Group by 33.3% during the first quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company’s stock worth $35,000 after purchasing an additional 1,000 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Bitdeer Technologies Group by 56.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock worth $93,000 after purchasing an additional 1,540 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Bitdeer Technologies Group during the first quarter worth $55,000. Public Employees Retirement System of Ohio lifted its stake in Bitdeer Technologies Group by 14.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 9,600 shares of the company’s stock worth $208,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Bitdeer Technologies Group by 173.7% during the fourth quarter. Deutsche Bank AG now owns 16,525 shares of the company’s stock worth $358,000 after purchasing an additional 10,488 shares during the last quarter. 22.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $23.00 price objective on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Wall Street Zen cut Bitdeer Technologies Group from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. HC Wainwright raised their price objective on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday, August 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $17.00 target price on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $20.80.

Bitdeer Technologies Group Stock Performance

BTDR stock opened at $12.35 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -2.63 and a beta of 2.23. Bitdeer Technologies Group has a 1 year low of $5.40 and a 1 year high of $26.99. The stock’s fifty day moving average is $13.31 and its two-hundred day moving average is $11.97.

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.