GeoSphere Capital Management LLC Buys New Shares in Bitdeer Technologies Group (NASDAQ:BTDR)

GeoSphere Capital Management LLC purchased a new position in Bitdeer Technologies Group (NASDAQ:BTDR) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 165,000 shares of the company’s stock, valued at approximately $3,576,000. Bitdeer Technologies Group makes up about 1.7% of GeoSphere Capital Management LLC’s holdings, making the stock its 10th biggest holding.

Several other institutional investors also recently modified their holdings of BTDR. FengHe Fund Management Pte. Ltd. acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $10,378,000. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at $161,000. Renaissance Technologies LLC raised its holdings in shares of Bitdeer Technologies Group by 3,558.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company’s stock worth $26,876,000 after acquiring an additional 1,206,361 shares in the last quarter. Yong Rong HK Asset Management Ltd acquired a new stake in Bitdeer Technologies Group during the fourth quarter valued at $65,010,000. Finally, JPMorgan Chase & Co. acquired a new position in Bitdeer Technologies Group in the 4th quarter worth about $8,833,000. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Price Performance

Shares of BTDR opened at $14.09 on Friday. The company has a market capitalization of $1.58 billion, a P/E ratio of -27.10 and a beta of 2.24. Bitdeer Technologies Group has a one year low of $5.25 and a one year high of $26.99. The business’s 50 day simple moving average is $9.68 and its 200-day simple moving average is $13.72.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BTDR shares. Needham & Company LLC cut their price objective on shares of Bitdeer Technologies Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, April 21st. Northland Securities lifted 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 note on Friday, January 10th. Rosenblatt Securities decreased their price objective on shares of Bitdeer Technologies Group from $25.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, April 10th. HC Wainwright restated a “buy” rating and set a $21.00 target price (down from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Finally, Benchmark decreased their price target on Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Bitdeer Technologies Group currently has a consensus rating of “Buy” and an average price target of $19.50.

About Bitdeer Technologies Group

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.