796,287 Shares in Bitdeer Technologies Group $BTDR Bought by Fund Resources Investment Holding Group Co Ltd

Fund Resources Investment Holding Group Co Ltd purchased a new stake in Bitdeer Technologies Group (NASDAQ:BTDR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 796,287 shares of the company’s stock, valued at approximately $8,353,000. Bitdeer Technologies Group accounts for about 2.3% of Fund Resources Investment Holding Group Co Ltd’s holdings, making the stock its 4th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in shares of Bitdeer Technologies Group by 1,366.7% during the 1st quarter. Bank of America Corp DE now owns 3,227,585 shares of the company’s stock worth $27,919,000 after buying an additional 3,007,523 shares during the period. Q Fund Management Hong Kong Ltd bought a new position in Bitdeer Technologies Group during the third quarter worth $3,321,000. Situational Awareness LP grew its holdings in Bitdeer Technologies Group by 92.4% in the first quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock worth $29,751,000 after purchasing an additional 1,651,450 shares during the period. Engineers Gate Manager LP acquired a new stake in Bitdeer Technologies Group in the second quarter worth $2,115,000. Finally, Bank of Nova Scotia increased its stake in Bitdeer Technologies Group by 91.1% in the first quarter. Bank of Nova Scotia now owns 1,369,447 shares of the company’s stock valued at $11,846,000 after purchasing an additional 652,874 shares in the last quarter. 22.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bitdeer Technologies Group

In other news, CFO Michael Potter acquired 25,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were purchased at an average cost of $9.04 per share, with a total value of $226,000.00. Following the acquisition, the chief financial officer directly owned 25,000 shares of the company’s stock, valued at $226,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Haris Basit bought 25,000 shares of Bitdeer Technologies Group stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $8.84 per share, with a total value of $221,000.00. Following the purchase, the insider owned 35,000 shares in the company, valued at approximately $309,400. This represents a 250.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BTDR. Keefe, Bruyette & Woods dropped their price objective on shares of Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, August 13th. HC Wainwright reissued a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, October 2nd. Rosenblatt Securities restated a “buy” rating and set a $25.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, September 15th. Wall Street Zen raised Bitdeer Technologies Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 31st. Finally, B. Riley Financial cut their target price on Bitdeer Technologies Group from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.60.

Bitdeer Technologies Group Stock Up 13.2%

Shares of BTDR traded up $0.70 on Friday, reaching $6.01. The company’s stock had a trading volume of 13,226,962 shares, compared to its average volume of 9,914,036. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.20. Bitdeer Technologies Group has a twelve month low of $5.03 and a twelve month high of $23.30. The stock has a market capitalization of $1.37 billion, a PE ratio of -1.96 and a beta of 2.72. The firm has a fifty day moving average of $9.78 and a 200-day moving average of $11.51.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) earnings per share for the quarter. The business had revenue of $228.78 million during the quarter. Bitdeer Technologies Group had a negative net margin of 55.15% and a negative return on equity of 54.72%. Equities analysts predict that Bitdeer Technologies Group will post -1.68 EPS for the current year.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group is a technology company focused on cryptocurrency mining and related infrastructure. The company operates a vertically integrated platform that includes cryptocurrency mining, miner hosting, and hash rate sharing services, allowing customers to participate in digital asset mining without managing all of the underlying hardware and facilities.

Bitdeer conducts self-mining operations and provides data center services for mining equipment. It also develops and manufactures application-specific integrated circuit (ASIC) mining machines through its SEALMINER product line, with the goal of improving mining performance and energy efficiency.