Capital Research Global Investors Buys New Shares in Bitdeer Technologies Group $BTDR

Capital Research Global Investors bought a new stake in Bitdeer Technologies Group (NASDAQ:BTDR) during the 4th quarter, HoldingsChannel.com reports. The fund bought 536,037 shares of the company’s stock, valued at approximately $6,009,000.

Several other hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its position in Bitdeer Technologies Group by 167.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock worth $4,265,000 after purchasing an additional 302,548 shares during the period. Legal & General Group Plc grew its position 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 worth $844,000 after purchasing an additional 20,640 shares during the period. New York State Common Retirement Fund acquired a new stake in Bitdeer Technologies Group during the 2nd quarter worth about $326,000. Invesco Ltd. grew its position in Bitdeer Technologies Group by 169.0% during 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 during the period. Finally, Marshall Wace LLP acquired a new stake in Bitdeer Technologies Group during the 2nd quarter worth about $1,558,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. UBS Group reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research report on Thursday, February 12th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Bitdeer Technologies Group in a research report on Wednesday, May 20th. B. Riley Financial increased their price target on Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. HC Wainwright cut their price target on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Finally, Cantor Fitzgerald increased their target price on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

Bitdeer Technologies Group Trading Down 5.8%

BTDR stock opened at $17.41 on Wednesday. The company’s 50-day simple moving average is $13.30 and its 200-day simple moving average is $11.76. The company has a quick ratio of 1.11, a current ratio of 1.85 and a debt-to-equity ratio of 1.88. Bitdeer Technologies Group has a 52-week low of $6.92 and a 52-week high of $27.80. The firm has a market cap of $4.10 billion, a P/E ratio of -5.05 and a beta of 2.45.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.21). The company had revenue of $188.93 million during the quarter, compared to analysts’ expectations of $184.02 million. Bitdeer Technologies Group had a negative net margin of 68.11% and a negative return on equity of 69.95%. The company’s quarterly revenue was up 169.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.37) earnings per share. As a group, equities analysts forecast that Bitdeer Technologies Group will post -1.18 EPS for the current fiscal 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.