CastleKnight Management LP Boosts Stake in Bitdeer Technologies Group $BTDR

CastleKnight Management LP lifted its position in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,095,116 shares of the company’s stock after acquiring an additional 269,875 shares during the quarter. Bitdeer Technologies Group accounts for approximately 0.5% of CastleKnight Management LP’s investment portfolio, making the stock its 23rd biggest holding. CastleKnight Management LP’s holdings in Bitdeer Technologies Group were worth $23,486,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth about $34,000. Kestra Advisory Services LLC acquired a new stake in Bitdeer Technologies Group in the 4th quarter worth about $39,000. Tower Research Capital LLC TRC boosted its holdings in Bitdeer Technologies Group by 7,157.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock worth $83,000 after buying an additional 7,157 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Bitdeer Technologies Group in the 3rd quarter worth about $159,000. Finally, Mariner LLC acquired a new stake in Bitdeer Technologies Group in the 4th quarter worth about $117,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BTDR shares. B. Riley Financial lifted their price objective on Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Wall Street Zen cut Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Rosenblatt Securities lifted their price objective on Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Weiss Ratings upgraded Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Finally, Cantor Fitzgerald lifted their price objective on Bitdeer Technologies Group from $11.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.50.

Bitdeer Technologies Group Trading Down 1.8%

BTDR opened at $17.92 on Thursday. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.85 and a quick ratio of 1.11. The company’s 50 day simple moving average is $14.34 and its two-hundred day simple moving average is $12.02. Bitdeer Technologies Group has a 1-year low of $6.92 and a 1-year high of $27.80. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of -5.19 and a beta of 2.45.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The business had revenue of $188.93 million during the quarter, compared to analysts’ expectations of $184.02 million. During the same period last year, the business earned ($0.37) earnings per share. The company’s revenue for the quarter was up 169.5% compared to the same quarter last year. Analysts expect that Bitdeer Technologies Group will post -1.18 EPS for the current fiscal year.

About Bitdeer Technologies Group

Bitdeer Technologies Group Inc (NASDAQ:BTDR) is a global digital asset mining and computing services provider focused on delivering secure and efficient hashrate solutions to institutional and retail customers. The company leverages its proprietary mining platform to offer hosted mining, hashrate sales and management services, enabling clients to access large-scale mining operations without direct investment in hardware or infrastructure.

Bitdeer’s core offerings include mining hosting services, whereby the firm installs, operates and maintains specialized mining equipment on behalf of customers, and hashrate-as-a-service products that provide fixed-capacity mining power with transparent pricing structures.