Vontobel Holding Ltd. Trims Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Vontobel Holding Ltd. trimmed its holdings in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 38.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,583 shares of the company’s stock after selling 20,739 shares during the quarter. Vontobel Holding Ltd.’s holdings in Bitdeer Technologies Group were worth $255,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of BTDR. Millennium Management LLC grew its position in Bitdeer Technologies Group by 901.0% during the 2nd quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock worth $4,210,000 after acquiring an additional 369,363 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Bitdeer Technologies Group by 10.5% during the first quarter. Van ECK Associates Corp now owns 1,216,060 shares of the company’s stock valued at $8,537,000 after acquiring an additional 115,882 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Bitdeer Technologies Group during the 2nd quarter valued at about $4,510,000. Thomist Capital Management LP purchased a new position in Bitdeer Technologies Group in the 2nd quarter worth approximately $1,156,000. Finally, Point72 Asset Management L.P. bought a new position in Bitdeer Technologies Group in the 2nd quarter valued at approximately $4,617,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Performance

Shares of Bitdeer Technologies Group stock opened at $7.72 on Thursday. The company has a market cap of $864.38 million, a PE ratio of -18.78 and a beta of 1.92. The business has a 50-day simple moving average of $7.07 and a 200-day simple moving average of $7.62. Bitdeer Technologies Group has a one year low of $2.90 and a one year high of $14.27.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.06). The business had revenue of $99.23 million for the quarter, compared to analysts’ expectations of $110.79 million. Bitdeer Technologies Group had a negative return on equity of 2.56% and a negative net margin of 5.69%. On average, sell-side analysts predict that Bitdeer Technologies Group will post -0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. HC Wainwright reduced their price objective on Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research note on Thursday, September 26th. Northland Capmk raised shares of Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Northland Securities started coverage on shares of Bitdeer Technologies Group in a report on Wednesday, October 9th. They issued an “outperform” rating and a $13.00 target price for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Bitdeer Technologies Group presently has a consensus rating of “Buy” and an average target price of $13.70.

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.