Weiss Asset Management LP Takes Position in Bitdeer Technologies Group $BTDR

Weiss Asset Management LP purchased a new stake in shares of Bitdeer Technologies Group (NASDAQ:BTDR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 50,817 shares of the company’s stock, valued at approximately $440,000.

Other hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in Bitdeer Technologies Group by 167.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock valued at $4,265,000 after acquiring an additional 302,548 shares in the last quarter. Legal & General Group Plc boosted its stake in Bitdeer Technologies Group by 39.0% during the 2nd quarter. Legal & General Group Plc now owns 73,541 shares of the company’s stock valued at $844,000 after purchasing an additional 20,640 shares during the last quarter. New York State Common Retirement Fund bought a new stake in shares of Bitdeer Technologies Group in the 2nd quarter worth $326,000. Invesco Ltd. increased its holdings in shares of Bitdeer Technologies Group by 169.0% in the 2nd quarter. Invesco Ltd. now owns 71,822 shares of the company’s stock worth $825,000 after purchasing an additional 45,120 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Bitdeer Technologies Group in the second quarter worth $1,558,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on BTDR. Weiss Ratings raised Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Wall Street Zen lowered Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Rosenblatt Securities boosted their target price on Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Keefe, Bruyette & Woods lowered their target price on shares of Bitdeer Technologies Group from $17.00 to $14.00 and set a “market perform” rating on the stock in a research note on Tuesday. Finally, Needham & Company LLC raised their price target on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $25.45.

Bitdeer Technologies Group Price Performance

Shares of BTDR opened at $10.28 on Wednesday. The firm has a market cap of $2.42 billion, a PE ratio of -2.98 and a beta of 2.47. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88. The firm has a fifty day simple moving average of $15.29 and a two-hundred day simple moving average of $12.52. Bitdeer Technologies Group has a 1-year low of $6.92 and a 1-year high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative net margin of 68.11% and a negative return on equity of 69.95%. The firm had revenue of $188.93 million for the quarter, compared to the consensus estimate of $184.02 million. During the same period in the previous year, the company earned ($0.37) earnings per share. Bitdeer Technologies Group’s quarterly revenue was up 169.5% compared to the same quarter last year. On average, equities analysts anticipate that Bitdeer Technologies Group will post -1.18 EPS for the current year.

Bitdeer Technologies Group Profile

Bitdeer Technologies Group Inc (NASDAQ:BTDR) is a global digital asset mining and computing services provider focused on delivering secure and efficient hashrate solutions to institutional and retail customers. The company leverages its proprietary mining platform to offer hosted mining, hashrate sales and management services, enabling clients to access large-scale mining operations without direct investment in hardware or infrastructure.

Bitdeer’s core offerings include mining hosting services, whereby the firm installs, operates and maintains specialized mining equipment on behalf of customers, and hashrate-as-a-service products that provide fixed-capacity mining power with transparent pricing structures.