Lone Pine Capital LLC Sells 311,248 Shares of Bitdeer Technologies Group (NASDAQ:BTDR)

Lone Pine Capital LLC trimmed its holdings in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 24.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 986,717 shares of the company’s stock after selling 311,248 shares during the period. Bitdeer Technologies Group makes up approximately 0.2% of Lone Pine Capital LLC’s holdings, making the stock its 26th largest position. Lone Pine Capital LLC owned approximately 0.88% of Bitdeer Technologies Group worth $21,382,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BTDR. Quarry LP bought a new stake in Bitdeer Technologies Group in the fourth quarter worth $42,000. Stonebridge Financial Group LLC bought a new stake in Bitdeer Technologies Group in the fourth quarter worth $65,000. SBI Securities Co. Ltd. bought a new stake in Bitdeer Technologies Group in the fourth quarter worth $79,000. Wells Fargo & Company MN boosted its holdings in Bitdeer Technologies Group by 56.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock worth $93,000 after acquiring an additional 1,540 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Bitdeer Technologies Group in the fourth quarter worth $116,000. 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. Roth Mkm reaffirmed a “buy” rating and set a $23.50 price target (down from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Keefe, Bruyette & Woods started 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. 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. Northland Securities upped their price target on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, Rosenblatt Securities reduced their price objective on Bitdeer Technologies Group from $25.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $19.50.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock opened at $10.53 on Monday. Bitdeer Technologies Group has a 1 year low of $5.25 and a 1 year high of $26.99. The firm’s 50-day moving average is $9.89 and its two-hundred day moving average is $13.60. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -20.25 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.