Entropy Technologies LP Has $843,000 Stake in Bitdeer Technologies Group $BTDR

Entropy Technologies LP raised its position in Bitdeer Technologies Group (NASDAQ:BTDR) by 770.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,488 shares of the company’s stock after buying an additional 86,293 shares during the quarter. Entropy Technologies LP’s holdings in Bitdeer Technologies Group were worth $843,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $34,000. Kestra Advisory Services LLC bought a new position in Bitdeer Technologies Group in the fourth quarter valued at approximately $39,000. Hollencrest Capital Management bought a new position in Bitdeer Technologies Group in the first quarter valued at approximately $43,000. Leonteq Securities AG acquired a new position in Bitdeer Technologies Group during the first quarter valued at approximately $72,000. Finally, Tower Research Capital LLC TRC raised its position in Bitdeer Technologies Group by 7,157.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after purchasing an additional 7,157 shares in the last quarter. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $10.28 on Wednesday. The business’s 50-day moving average price is $15.29 and its 200-day moving average price is $12.52. Bitdeer Technologies Group has a 12 month low of $6.92 and a 12 month high of $27.80. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -2.98 and a beta of 2.47. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The firm had revenue of $188.93 million for the quarter, compared to the consensus estimate of $184.02 million. During the same quarter last year, the firm posted ($0.37) earnings per share. The business’s revenue for the quarter was up 169.5% on a year-over-year basis. Equities research analysts forecast that Bitdeer Technologies Group will post -1.18 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BTDR shares. Weiss Ratings raised Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Keefe, Bruyette & Woods decreased their price target on Bitdeer Technologies Group from $17.00 to $14.00 and set a “market perform” rating on the stock in a research note on Tuesday. Rosenblatt Securities boosted their price target on Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Cantor Fitzgerald upped their price objective on Bitdeer Technologies Group from $11.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Finally, B. Riley Financial raised their price objective on Bitdeer Technologies Group from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.45.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group Inc (NASDAQ:BTDR) is a global digital asset mining and computing services provider focused on delivering secure and efficient hashrate solutions to institutional and retail customers. The company leverages its proprietary mining platform to offer hosted mining, hashrate sales and management services, enabling clients to access large-scale mining operations without direct investment in hardware or infrastructure.

Bitdeer’s core offerings include mining hosting services, whereby the firm installs, operates and maintains specialized mining equipment on behalf of customers, and hashrate-as-a-service products that provide fixed-capacity mining power with transparent pricing structures.