FengHe Fund Management Pte. Ltd. Takes Position in Bitdeer Technologies Group (NASDAQ:BTDR)

FengHe Fund Management Pte. Ltd. purchased a new stake in Bitdeer Technologies Group (NASDAQ:BTDR) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 478,900 shares of the company’s stock, valued at approximately $10,378,000. Bitdeer Technologies Group accounts for 3.1% of FengHe Fund Management Pte. Ltd.’s holdings, making the stock its 8th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of BTDR. Stonebridge Financial Group LLC acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $65,000. Public Employees Retirement System of Ohio acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $66,000. Centiva Capital LP acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $91,000. Barclays PLC bought a new stake in Bitdeer Technologies Group in the 3rd quarter valued at about $161,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Bitdeer Technologies Group in the 3rd quarter valued at about $169,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Bitdeer Technologies Group Trading Down 0.5 %

BTDR stock opened at $16.50 on Monday. The firm’s 50-day moving average is $19.77 and its two-hundred day moving average is $12.52. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -31.73 and a beta of 2.04.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Needham & Company LLC lifted their price objective on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Keefe, Bruyette & Woods assumed coverage on shares of Bitdeer Technologies Group in a research report on Monday, January 27th. They issued an “outperform” rating and a $26.50 price objective on the stock. HC Wainwright lifted their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Roth Mkm lifted their price objective on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Finally, Rosenblatt Securities lifted their price objective on shares of Bitdeer Technologies Group from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $22.23.

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.