316,600 Shares in Bitdeer Technologies Group $BTDR Bought by Q Fund Management Hong Kong Ltd

Q Fund Management Hong Kong Ltd acquired a new stake in Bitdeer Technologies Group (NASDAQ:BTDR – Free Report) in the third quarter, Holdings Channel reports. The institutional investor acquired 316,600 shares of the company’s stock, valued at approximately $3,321,000. Bitdeer Technologies Group accounts for approximately 3.0% of Q Fund Management Hong Kong Ltd’s portfolio, making the stock its 11th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in Bitdeer Technologies Group by 58.6% in the 3rd quarter. GAMMA Investing LLC now owns 3,928 shares of the company’s stock worth $41,000 after purchasing an additional 1,452 shares during the period. CoreCap Advisors LLC lifted its stake in Bitdeer Technologies Group by 467.5% in the third quarter. CoreCap Advisors LLC now owns 5,675 shares of the company’s stock worth $60,000 after purchasing an additional 4,675 shares during the last quarter. BlueCrest Capital Management Ltd boosted its position in Bitdeer Technologies Group by 5,167.0% during the second quarter. BlueCrest Capital Management Ltd now owns 506,700 shares of the company’s stock valued at $8,041,000 after buying an additional 516,700 shares during the period. WINTON GROUP Ltd boosted its position in Bitdeer Technologies Group by 38.4% during the second quarter. WINTON GROUP Ltd now owns 20,200 shares of the company’s stock valued at $321,000 after buying an additional 5,600 shares during the period. Finally, Engineers Gate Manager LP purchased a new stake in Bitdeer Technologies Group during the second quarter valued at about $2,115,000. Institutional investors own 22.25% of the company’s stock.

Insider Transactions at Bitdeer Technologies Group

In other news, insider Haris Basit acquired 25,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $8.84 per share, for a total transaction of $221,000.00. Following the completion of the transaction, the insider owned 35,000 shares of the company’s stock, valued at $309,400. The trade was a 250.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Potter acquired 25,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average cost of $9.04 per share, with a total value of $226,000.00. Following the completion of the purchase, the chief financial officer owned 25,000 shares of the company’s stock, valued at approximately $226,000. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing.

Wall Street Analysts Forecast Growth

BTDR has been the topic of a number of recent research reports. Cantor Fitzgerald raised Bitdeer Technologies Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $15.00 to $18.00 in a research note on Wednesday, August 5th. Weiss Ratings lowered Bitdeer Technologies Group from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. Citizens Jmp started coverage on Bitdeer Technologies Group in a research note on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 target price for the company. HC Wainwright restated a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, October 2nd. Finally, Benchmark restated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.45.

Get Our Latest Stock Analysis on BTDR

Bitdeer Technologies Group Stock Down 0.5%

Shares of NASDAQ BTDR opened at $9.21 on Wednesday. The firm’s fifty day moving average is $10.85 and its 200 day moving average is $12.59. Bitdeer Technologies Group has a 52 week low of $6.92 and a 52 week high of $27.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -3.01 and a beta of 2.56.

Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) earnings per share for the quarter. The firm had revenue of $228.78 million for the quarter. Bitdeer Technologies Group had a negative net margin of 55.15% and a negative return on equity of 54.72%. On average, equities research analysts expect that Bitdeer Technologies Group will post -1.68 earnings per share for the current year.

Bitdeer Technologies Group Profile

(Free Report)

Bitdeer Technologies Group is a Singapore-based technology company focused on cryptocurrency mining and high-performance computing. The company operates an integrated platform that includes digital asset mining, mining-machine hosting and hash-rate sharing services for institutional and individual customers.

Bitdeer also develops proprietary cryptocurrency-mining hardware under the SEALMINER brand. Its activities span the design, production and deployment of application-specific integrated circuit (ASIC) mining machines, as well as the operation of data centers that support its own mining activities and hosting customers.

The company operates data-center and mining infrastructure across multiple international markets, including North America, Europe and Asia.

Further Reading

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Institutional Ownership by Quarter for Bitdeer Technologies Group (NASDAQ:BTDR)

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