Bitdeer Technologies Group $BTDR Shares Newly Purchased by Funde Sino Life Insurance Co Ltd

Funde Sino Life Insurance Co Ltd bought a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,466,627 shares of the company’s stock, valued at approximately $109,795,000. Bitdeer Technologies Group accounts for approximately 59.2% of Funde Sino Life Insurance Co Ltd’s investment portfolio, making the stock its largest holding.

Other large investors have also added to or reduced their stakes in the company. Situational Awareness LP lifted its holdings in shares of Bitdeer Technologies Group by 92.4% during the 1st quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock worth $29,751,000 after acquiring an additional 1,651,450 shares during the period. Bank of America Corp DE grew its position in shares of Bitdeer Technologies Group by 1,366.7% during the 1st quarter. Bank of America Corp DE now owns 3,227,585 shares of the company’s stock worth $27,919,000 after buying an additional 3,007,523 shares during the period. Bank of Nova Scotia raised its stake in Bitdeer Technologies Group by 91.1% during the 1st quarter. Bank of Nova Scotia now owns 1,369,447 shares of the company’s stock worth $11,846,000 after buying an additional 652,874 shares during the period. BlueCrest Capital Management Ltd lifted its holdings in shares of Bitdeer Technologies Group by 5,167.0% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 506,700 shares of the company’s stock worth $8,041,000 after purchasing an additional 516,700 shares in the last quarter. Finally, Q Fund Management Hong Kong Ltd bought a new position in shares of Bitdeer Technologies Group in the third quarter valued at approximately $3,321,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Up 13.2%

Shares of Bitdeer Technologies Group stock traded up $0.70 on Friday, reaching $6.01. The company’s stock had a trading volume of 13,226,962 shares, compared to its average volume of 9,914,036. The firm’s fifty day simple moving average is $9.78 and its two-hundred day simple moving average is $11.51. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -1.96 and a beta of 2.72. Bitdeer Technologies Group has a 52 week low of $5.03 and a 52 week high of $23.30.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) earnings per share (EPS) for the quarter. Bitdeer Technologies Group had a negative net margin of 55.15% and a negative return on equity of 54.72%. The company had revenue of $228.78 million for the quarter. Equities analysts anticipate that Bitdeer Technologies Group will post -1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. B. Riley Financial reduced their price objective on Bitdeer Technologies Group from $21.00 to $19.00 and set a “buy” rating for the company in a report on Friday, October 30th. HC Wainwright reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, October 2nd. Wall Street Zen upgraded Bitdeer Technologies Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 31st. Needham & Company LLC cut their target price on Bitdeer Technologies Group from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Finally, Barclays lifted their price target on shares of Bitdeer Technologies Group from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.60.

Insider Buying and Selling at Bitdeer Technologies Group

In other Bitdeer Technologies Group news, insider Haris Basit acquired 25,000 shares of the stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $8.84 per share, for a total transaction of $221,000.00. Following the completion of the transaction, the insider directly owned 35,000 shares of the company’s stock, valued at $309,400. This trade represents a 250.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Potter bought 25,000 shares of Bitdeer Technologies Group stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average price of $9.04 per share, for a total transaction of $226,000.00. Following the completion of the acquisition, the chief financial officer owned 25,000 shares in the company, valued at approximately $226,000. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

About Bitdeer Technologies Group

Bitdeer Technologies Group is a technology company focused on cryptocurrency mining and related infrastructure. The company operates a vertically integrated platform that includes cryptocurrency mining, miner hosting, and hash rate sharing services, allowing customers to participate in digital asset mining without managing all of the underlying hardware and facilities.

Bitdeer conducts self-mining operations and provides data center services for mining equipment. It also develops and manufactures application-specific integrated circuit (ASIC) mining machines through its SEALMINER product line, with the goal of improving mining performance and energy efficiency.