EDBI Pte Ltd Reduces Position in Bitdeer Technologies Group (NASDAQ:BTDR)

EDBI Pte Ltd trimmed its holdings in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 72.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 100,000 shares of the company’s stock after selling 257,263 shares during the quarter. Bitdeer Technologies Group accounts for about 0.8% of EDBI Pte Ltd’s investment portfolio, making the stock its 12th biggest position. EDBI Pte Ltd owned approximately 0.09% of Bitdeer Technologies Group worth $702,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $49,000. Vontobel Holding Ltd. acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $240,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Bitdeer Technologies Group by 149.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock worth $384,000 after acquiring an additional 23,310 shares in the last quarter. Swiss National Bank acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $604,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $1,199,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Price Performance

NASDAQ:BTDR opened at $10.26 on Monday. Bitdeer Technologies Group has a 1-year low of $2.77 and a 1-year high of $14.65. The business’s fifty day moving average price is $7.01 and its 200 day moving average price is $7.32.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its earnings results on Monday, May 13th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). Bitdeer Technologies Group had a negative net margin of 11.21% and a negative return on equity of 3.98%. The firm had revenue of $119.51 million during the quarter, compared to analysts’ expectations of $119.12 million. Analysts predict that Bitdeer Technologies Group will post -0.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Rosenblatt Securities assumed coverage on Bitdeer Technologies Group in a research report on Tuesday, April 9th. They set a “buy” rating and a $10.50 price objective for the company. B. Riley initiated coverage on Bitdeer Technologies Group in a research report on Tuesday, March 12th. They set a “buy” rating and a $9.00 price target for the company. Cantor Fitzgerald upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, June 12th. Benchmark reiterated a “buy” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a research report on Monday, April 15th. Finally, BTIG Research initiated coverage on Bitdeer Technologies Group in a research report on Wednesday, March 13th. They set a “buy” rating and a $15.00 price target for the company. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $13.56.

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.