Bitdeer Technologies Group $BTDR Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lowered its position in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 28.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 119,245 shares of the company’s stock after selling 48,445 shares during the period. Lazard Asset Management LLC’s holdings in Bitdeer Technologies Group were worth $1,031,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BTDR. Fund Resources Investment Holding Group Co Ltd bought a new stake in Bitdeer Technologies Group in the fourth quarter worth about $102,732,000. Bank of America Corp DE lifted its holdings in Bitdeer Technologies Group by 67.5% in the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after acquiring an additional 2,553,093 shares during the last quarter. Value Aligned Research Advisors LLC boosted its position in shares of Bitdeer Technologies Group by 137.0% during the 4th quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after purchasing an additional 1,888,825 shares in the last quarter. Situational Awareness LP boosted its position in shares of Bitdeer Technologies Group by 92.3% during the 4th quarter. Situational Awareness LP now owns 1,788,000 shares of the company’s stock valued at $20,043,000 after purchasing an additional 858,400 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Bitdeer Technologies Group by 100.1% in the 4th quarter. Van ECK Associates Corp now owns 1,694,193 shares of the company’s stock worth $18,992,000 after purchasing an additional 847,486 shares during the last quarter. 22.25% of the stock is owned by institutional investors and hedge funds.

Bitdeer Technologies Group Trading Down 2.8%

NASDAQ:BTDR opened at $11.06 on Thursday. The stock has a fifty day simple moving average of $14.81 and a 200 day simple moving average of $12.43. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -3.21 and a beta of 2.50. Bitdeer Technologies Group has a 1-year low of $6.92 and a 1-year high of $27.80. The company has a quick ratio of 1.11, a current ratio of 1.85 and a debt-to-equity ratio of 1.88.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share (EPS) 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 company had revenue of $188.93 million for the quarter, compared to analyst estimates of $184.02 million. During the same quarter in the previous year, the firm posted ($0.37) EPS. Bitdeer Technologies Group’s quarterly revenue was up 169.5% on a year-over-year basis. Sell-side analysts forecast that Bitdeer Technologies Group will post -1.54 earnings per share for the current year.

Analysts Set New Price Targets

BTDR has been the topic of a number of research reports. Keefe, Bruyette & Woods dropped their target price on shares of Bitdeer Technologies Group from $17.00 to $14.00 and set a “market perform” rating on the stock in a report on Tuesday, July 28th. Needham & Company LLC raised their target price on shares of Bitdeer Technologies Group from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. Zacks Research upgraded shares of Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Citizens Jmp started coverage on Bitdeer Technologies Group in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 price target on the stock. Finally, Rosenblatt Securities increased their price objective on Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Bitdeer Technologies Group presently has an average rating of “Moderate Buy” and an average target price of $26.00.

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.