Van ECK Associates Corp Increases Stock Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Van ECK Associates Corp boosted its position in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 196.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,100,178 shares of the company’s stock after purchasing an additional 728,804 shares during the period. Van ECK Associates Corp owned approximately 0.99% of Bitdeer Technologies Group worth $10,848,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BTDR. Barclays PLC acquired a new stake in shares of Bitdeer Technologies Group during the third quarter valued at about $49,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Bitdeer Technologies Group during the third quarter worth approximately $150,000. Vontobel Holding Ltd. bought a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth $240,000. Swiss National Bank acquired a new stake in Bitdeer Technologies Group in the third quarter valued at $604,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in Bitdeer Technologies Group during the 4th quarter valued at $1,199,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Up 2.5 %

Bitdeer Technologies Group stock opened at $5.64 on Friday. The firm has a 50-day moving average price of $6.74 and a two-hundred day moving average price of $6.46. The firm has a market capitalization of $631.51 million, a price-to-earnings ratio of -13.43 and a beta of 1.79. Bitdeer Technologies Group has a 52-week low of $2.77 and a 52-week high of $14.65.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.15). Bitdeer Technologies Group had a negative return on equity of 7.34% and a negative net margin of 15.37%. The company had revenue of $114.85 million during the quarter. Research analysts expect that Bitdeer Technologies Group will post -0.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BTDR shares. Needham & Company LLC started coverage on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. They issued a “buy” rating and a $14.00 target price on the stock. Roth Mkm began coverage on Bitdeer Technologies Group in a research report on Thursday, February 29th. They issued a “buy” rating and a $14.00 target price for the company. BTIG Research initiated coverage on Bitdeer Technologies Group in a research note on Wednesday, March 13th. They set a “buy” rating and a $15.00 price objective on the stock. Benchmark reiterated a “buy” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. Finally, B. Riley assumed coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, March 12th. They issued a “buy” rating and a $9.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $13.64.

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.