Bitdeer Technologies Group (NASDAQ:BTDR) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its position in Bitdeer Technologies Group (NASDAQ:BTDR) by 216.8% during the first quarter, Holdings Channel reports. The firm owned 692,420 shares of the company’s stock after acquiring an additional 473,865 shares during the period. Exchange Traded Concepts LLC’s holdings in Bitdeer Technologies Group were worth $6,114,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Yong Rong HK Asset Management Ltd acquired a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at about $65,010,000. Trivest Advisors Ltd acquired a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at about $48,481,000. Renaissance Technologies LLC increased its holdings in shares of Bitdeer Technologies Group by 3,558.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company’s stock valued at $26,876,000 after purchasing an additional 1,206,361 shares during the period. Vident Advisory LLC increased its holdings in shares of Bitdeer Technologies Group by 29.7% in the fourth quarter. Vident Advisory LLC now owns 1,139,619 shares of the company’s stock valued at $24,696,000 after purchasing an additional 260,649 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at about $16,834,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. B. Riley raised their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Needham & Company LLC raised their target price on Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Rosenblatt Securities raised their target price on Bitdeer Technologies Group from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Finally, Wall Street Zen raised Bitdeer Technologies Group from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $19.60.

Bitdeer Technologies Group Price Performance

NASDAQ BTDR opened at $12.68 on Monday. The company has a market cap of $1.42 billion, a PE ratio of -24.38 and a beta of 2.32. The stock’s 50 day simple moving average is $11.76 and its 200-day simple moving average is $14.50. Bitdeer Technologies Group has a 1-year low of $5.40 and a 1-year high of $26.99.

Bitdeer Technologies Group 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.