150,000 Shares in Bitdeer Technologies Group (NASDAQ:BTDR) Acquired by Polymer Capital Management US LLC

Polymer Capital Management US LLC bought a new stake in Bitdeer Technologies Group (NASDAQ:BTDR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 150,000 shares of the company’s stock, valued at approximately $3,250,000. Bitdeer Technologies Group accounts for approximately 0.9% of Polymer Capital Management US LLC’s investment portfolio, making the stock its 27th biggest holding. Polymer Capital Management US LLC owned 0.13% of Bitdeer Technologies Group as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BTDR. Yong Rong HK Asset Management Ltd purchased a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at $65,010,000. Trivest Advisors Ltd acquired a new position in Bitdeer Technologies Group in the 4th quarter valued at about $48,481,000. Van ECK Associates Corp purchased a new stake in Bitdeer Technologies Group during the fourth quarter worth about $29,125,000. HCEP Management Ltd acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth about $11,551,000. Finally, FengHe Fund Management Pte. Ltd. acquired a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth about $10,378,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BTDR shares. Roth Mkm reaffirmed a “buy” rating and set a $23.50 target price (down from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Rosenblatt Securities reduced their price objective on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Benchmark decreased their target price on Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. HC Wainwright restated a “buy” rating and set a $21.00 price target (down previously from $22.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Finally, Northland Securities lifted their price objective 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. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bitdeer Technologies Group presently has a consensus rating of “Buy” and a consensus target price of $21.00.

Bitdeer Technologies Group Trading Down 8.4 %

BTDR stock opened at $8.03 on Monday. The stock has a market cap of $899.09 million, a P/E ratio of -15.44 and a beta of 2.25. Bitdeer Technologies Group has a twelve month low of $5.23 and a twelve month high of $26.99. The company’s 50 day moving average is $12.73 and its two-hundred day moving average is $13.51.

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.