Alkeon Capital Management LLC Acquires New Position in Bitdeer Technologies Group $BTDR

Alkeon Capital Management LLC acquired a new stake in Bitdeer Technologies Group (NASDAQ:BTDR) during the 4th quarter, Holdings Channel.com reports. The firm acquired 475,000 shares of the company’s stock, valued at approximately $5,325,000.

Several other large investors have also bought and sold shares of the business. First Trust Advisors LP lifted its holdings in Bitdeer Technologies Group by 2.2% in the third quarter. First Trust Advisors LP now owns 40,138 shares of the company’s stock valued at $686,000 after buying an additional 878 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Bitdeer Technologies Group by 5.6% in the third quarter. Public Employees Retirement System of Ohio now owns 20,800 shares of the company’s stock valued at $355,000 after buying an additional 1,100 shares during the period. Alliancebernstein L.P. lifted its holdings in Bitdeer Technologies Group by 1.3% in the third quarter. Alliancebernstein L.P. now owns 104,787 shares of the company’s stock valued at $1,791,000 after buying an additional 1,307 shares during the period. ProShare Advisors LLC lifted its holdings in Bitdeer Technologies Group by 17.4% in the fourth quarter. ProShare Advisors LLC now owns 18,023 shares of the company’s stock valued at $202,000 after buying an additional 2,670 shares during the period. Finally, Empowered Funds LLC acquired a new position in Bitdeer Technologies Group in the fourth quarter valued at approximately $34,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Stock Up 2.7%

Shares of BTDR stock opened at $18.32 on Tuesday. The firm has a fifty day moving average of $14.00 and a 200-day moving average of $11.94. 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 12-month low of $6.92 and a 12-month high of $27.80. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of -5.31 and a beta of 2.45.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its 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 business had revenue of $188.93 million during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was up 169.5% on a year-over-year basis. During the same period last year, the business posted ($0.37) EPS. As a group, equities research analysts predict that Bitdeer Technologies Group will post -1.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. B. Riley Financial increased their price objective on shares of Bitdeer Technologies Group from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 15th. Cantor Fitzgerald upped their target price on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, May 20th. Weiss Ratings raised shares of Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Finally, Wall Street Zen downgraded shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Bitdeer Technologies Group Company 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.