Mitsubishi UFJ Asset Management Co. Ltd. Acquires New Stake in Bitdeer Technologies Group $BTDR

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Bitdeer Technologies Group (NASDAQ:BTDR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 17,997 shares of the company’s stock, valued at approximately $207,000.

A number of other large investors have also modified their holdings of BTDR. FengHe Fund Management Pte. Ltd. boosted its holdings in shares of Bitdeer Technologies Group by 178.2% during the 1st quarter. FengHe Fund Management Pte. Ltd. now owns 1,332,200 shares of the company’s stock worth $11,763,000 after purchasing an additional 853,300 shares during the last quarter. Capital Fund Management S.A. acquired a new position in Bitdeer Technologies Group during the first quarter worth $6,835,000. Charles Schwab Investment Management Inc. boosted its holdings in Bitdeer Technologies Group by 45.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 537,082 shares of the company’s stock valued at $4,742,000 after acquiring an additional 168,304 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Bitdeer Technologies Group by 167.6% in the first quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock valued at $4,265,000 after purchasing an additional 302,548 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Bitdeer Technologies Group in the first quarter worth $2,491,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $10.52 on Friday. The company’s fifty day simple moving average is $19.06 and its 200-day simple moving average is $15.22. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. Bitdeer Technologies Group has a 52 week low of $6.84 and a 52 week high of $27.80. The company has a market cap of $2.23 billion, a PE ratio of -1.87 and a beta of 2.28.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its earnings results on Monday, November 10th. The company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($1.06). The company had revenue of $169.71 million during the quarter, compared to analysts’ expectations of $151.80 million. Bitdeer Technologies Group had a negative return on equity of 91.31% and a negative net margin of 115.59%.Bitdeer Technologies Group’s quarterly revenue was up 173.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.35) EPS. As a group, equities research analysts anticipate that Bitdeer Technologies Group will post -0.73 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on BTDR shares. HC Wainwright reduced their target price on shares of Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Rosenblatt Securities raised their price target on Bitdeer Technologies Group from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Cantor Fitzgerald lifted their price objective on shares of Bitdeer Technologies Group from $30.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Needham & Company LLC upped their price target on Bitdeer Technologies Group from $17.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Jones Trading assumed coverage on Bitdeer Technologies Group in a report on Monday, October 6th. They issued a “buy” rating and a $32.00 price objective on the stock. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.33.

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.