Intech Investment Management LLC Acquires New Shares in Bitdeer Technologies Group $BTDR

Intech Investment Management LLC bought a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR) during the 2nd quarter, HoldingsChannel reports. The firm bought 43,627 shares of the company’s stock, valued at approximately $501,000.

A number of other large investors have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of Bitdeer Technologies Group by 197.7% in the second quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock valued at $18,280,000 after purchasing an additional 1,057,552 shares in the last quarter. FengHe Fund Management Pte. Ltd. boosted its stake in Bitdeer Technologies Group by 178.2% in the 1st quarter. FengHe Fund Management Pte. Ltd. now owns 1,332,200 shares of the company’s stock worth $11,763,000 after purchasing an additional 853,300 shares during the period. Capital Fund Management S.A. purchased a new position in Bitdeer Technologies Group during the 1st quarter valued at about $6,835,000. Goldman Sachs Group Inc. grew its holdings in Bitdeer Technologies Group by 167.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock valued at $4,265,000 after buying an additional 302,548 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Bitdeer Technologies Group by 45.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 537,082 shares of the company’s stock worth $4,742,000 after buying an additional 168,304 shares in the last quarter. 22.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BTDR shares. Roth Capital reissued a “buy” rating and issued a $40.00 price target on shares of Bitdeer Technologies Group in a report on Wednesday, October 15th. BTIG Research reiterated a “buy” rating and issued a $25.00 target price on shares of Bitdeer Technologies Group in a research note on Wednesday. Rosenblatt Securities boosted their price target on shares of Bitdeer Technologies Group from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a report on Monday, October 20th. Finally, HC Wainwright dropped their price objective on Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ:BTDR opened at $13.43 on Friday. The company’s fifty day moving average price is $18.28 and its 200-day moving average price is $15.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.90 and a quick ratio of 0.74. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of -2.39 and a beta of 2.28. Bitdeer Technologies Group has a one year low of $6.84 and a one year high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its earnings results on Monday, November 10th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($1.06). Bitdeer Technologies Group had a negative return on equity of 91.31% and a negative net margin of 115.59%.The company had revenue of $169.71 million during the quarter, compared to analysts’ expectations of $151.80 million. During the same quarter last year, the firm posted ($0.35) earnings per share. The firm’s revenue was up 173.7% on a year-over-year basis. On average, equities research analysts anticipate that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

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.