Y Intercept Hong Kong Ltd Purchases New Stake in Bitdeer Technologies Group $BTDR

Y Intercept Hong Kong Ltd acquired a new position in Bitdeer Technologies Group (NASDAQ:BTDR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,195 shares of the company’s stock, valued at approximately $129,000.

Other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Bitdeer Technologies Group during the 1st quarter valued at $55,000. KLP Kapitalforvaltning AS boosted its stake in shares of Bitdeer Technologies Group by 111.4% during the 1st quarter. KLP Kapitalforvaltning AS now owns 16,700 shares of the company’s stock worth $147,000 after acquiring an additional 8,800 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in Bitdeer Technologies Group by 507.1% during the first quarter. SBI Securities Co. Ltd. now owns 22,002 shares of the company’s stock valued at $194,000 after purchasing an additional 18,378 shares during the last quarter. Phoenix Financial Ltd. raised its position in shares of Bitdeer Technologies Group by 47.9% in the first quarter. Phoenix Financial Ltd. now owns 24,269 shares of the company’s stock valued at $215,000 after purchasing an additional 7,863 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Bitdeer Technologies Group by 37.9% in the first quarter. Invesco Ltd. now owns 26,702 shares of the company’s stock worth $236,000 after buying an additional 7,345 shares during the last quarter. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Stock Up 3.6%

Shares of BTDR opened at $21.99 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 1.03. The company has a 50-day simple moving average of $19.02 and a 200-day simple moving average of $15.14. Bitdeer Technologies Group has a 52 week low of $6.84 and a 52 week high of $27.80. The firm has a market capitalization of $4.66 billion, a P/E ratio of -4.68 and a beta of 2.28.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Bitdeer Technologies Group from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a research report on Wednesday, October 15th. Needham & Company LLC lifted their price objective 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. Roth Capital restated a “buy” rating and set a $40.00 target price on shares of Bitdeer Technologies Group in a research note on Wednesday, October 15th. Finally, BTIG Research raised their target price on Bitdeer Technologies Group from $23.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bitdeer Technologies Group currently has a consensus rating of “Moderate Buy” and an average target price of $27.58.

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.