Teacher Retirement System of Texas Takes Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Teacher Retirement System of Texas bought a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,278 shares of the company’s stock, valued at approximately $331,000.

Several other institutional investors and hedge funds have also bought and sold shares of BTDR. Yong Rong HK Asset Management Ltd bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth $65,010,000. Trivest Advisors Ltd bought a new position in Bitdeer Technologies Group during the 4th quarter worth approximately $48,481,000. Van ECK Associates Corp purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter worth $29,125,000. FengHe Fund Management Pte. Ltd. purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at about $10,378,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Bitdeer Technologies Group by 49.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 368,778 shares of the company’s stock valued at $7,991,000 after purchasing an additional 121,944 shares during the period. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Stock Performance

NASDAQ BTDR opened at $8.96 on Wednesday. The firm has a market capitalization of $1.00 billion, a P/E ratio of -17.23 and a beta of 2.12. The stock has a 50-day simple moving average of $13.43 and a two-hundred day simple moving average of $13.48. Bitdeer Technologies Group has a fifty-two week low of $5.23 and a fifty-two week high of $26.99.

Analyst Upgrades and Downgrades

BTDR has been the subject of several research reports. Benchmark decreased their price objective on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Roth Mkm reissued a “buy” rating and issued a $23.50 target price (down from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Rosenblatt Securities dropped their target price on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. B. Riley increased their price objective on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Northland Securities raised their target price on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $21.00.

Bitdeer Technologies Group Profile

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.