Quarry LP Takes $42,000 Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Quarry LP purchased a new position in Bitdeer Technologies Group (NASDAQ:BTDR) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,929 shares of the company’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Yong Rong HK Asset Management Ltd purchased a new position in Bitdeer Technologies Group in the fourth quarter worth about $65,010,000. Trivest Advisors Ltd purchased a new position in Bitdeer Technologies Group in the 4th quarter worth approximately $48,481,000. Van ECK Associates Corp bought a new position in Bitdeer Technologies Group in the 4th quarter valued at approximately $29,125,000. Renaissance Technologies LLC boosted its stake in Bitdeer Technologies Group by 3,558.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company’s stock valued at $26,876,000 after purchasing an additional 1,206,361 shares during the last quarter. Finally, HCEP Management Ltd bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth $11,551,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BTDR shares. Keefe, Bruyette & Woods assumed coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They set an “outperform” rating and a $26.50 price target on the stock. Benchmark lowered their target price on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. HC Wainwright reiterated a “buy” rating and issued a $21.00 price target (down from $22.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Northland Securities increased their price objective on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, Needham & Company LLC cut their target price on shares of Bitdeer Technologies Group from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $19.50.

Bitdeer Technologies Group Stock Performance

Shares of Bitdeer Technologies Group stock opened at $10.97 on Friday. The stock’s fifty day moving average is $9.60 and its 200 day moving average is $13.63. Bitdeer Technologies Group has a one year low of $5.25 and a one year high of $26.99. The stock has a market cap of $1.23 billion, a P/E ratio of -21.10 and a beta of 2.25.

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.