Trivest Advisors Ltd Acquires New Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Trivest Advisors Ltd bought a new position in Bitdeer Technologies Group (NASDAQ:BTDR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,237,248 shares of the company’s stock, valued at approximately $48,481,000. Bitdeer Technologies Group accounts for approximately 2.2% of Trivest Advisors Ltd’s portfolio, making the stock its 17th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Yong Rong HK Asset Management Ltd purchased a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at $65,010,000. Van ECK Associates Corp acquired a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at $29,125,000. Mirabella Financial Services LLP acquired a new stake in Bitdeer Technologies Group in the 3rd quarter valued at $5,872,000. FengHe Fund Management Pte. Ltd. acquired a new position in shares of Bitdeer Technologies Group during the fourth quarter worth about $10,378,000. Finally, State Street Corp acquired a new stake in shares of Bitdeer Technologies Group in the third quarter valued at about $1,510,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BTDR has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. B. Riley increased their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Rosenblatt Securities dropped their price objective on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Monday. Northland Securities increased their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, Roth Mkm restated a “buy” rating and issued a $23.50 price target (down previously from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $21.30.

Bitdeer Technologies Group Stock Performance

NASDAQ BTDR opened at $9.48 on Wednesday. The firm has a market capitalization of $1.06 billion, a PE ratio of -18.23 and a beta of 2.12. The company has a 50-day simple moving average of $15.38 and a 200-day simple moving average of $13.21. Bitdeer Technologies Group has a one year low of $5.23 and a one year high of $26.99.

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.