Bitdeer Technologies Group $BTDR Stake Lifted by Fund Resources Investment Holding Group Co Ltd

Fund Resources Investment Holding Group Co Ltd raised its position in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,440,418 shares of the company’s stock after purchasing an additional 276,098 shares during the period. Bitdeer Technologies Group comprises 100.0% of Fund Resources Investment Holding Group Co Ltd’s portfolio, making the stock its biggest position. Fund Resources Investment Holding Group Co Ltd’s holdings in Bitdeer Technologies Group were worth $81,660,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bank of America Corp DE lifted its holdings in shares of Bitdeer Technologies Group by 67.5% in the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock worth $72,753,000 after buying an additional 2,553,093 shares during the period. Value Aligned Research Advisors LLC increased its stake in shares of Bitdeer Technologies Group by 137.0% during the fourth quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after buying an additional 1,888,825 shares during the period. Azora Capital LP bought a new stake in shares of Bitdeer Technologies Group in the third quarter valued at about $23,817,000. Situational Awareness LP raised its holdings in shares of Bitdeer Technologies Group by 92.3% in the fourth quarter. Situational Awareness LP now owns 1,788,000 shares of the company’s stock valued at $20,043,000 after acquiring an additional 858,400 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Bitdeer Technologies Group by 100.1% in the fourth quarter. Van ECK Associates Corp now owns 1,694,193 shares of the company’s stock worth $18,992,000 after acquiring an additional 847,486 shares during the period. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BTDR. Needham & Company LLC boosted their price target on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, May 15th. Citizens Jmp began coverage on shares of Bitdeer Technologies Group in a report on Wednesday. They set a “market outperform” rating and a $35.00 price objective on the stock. Weiss Ratings raised shares of Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Keefe, Bruyette & Woods restated a “market perform” rating on shares of Bitdeer Technologies Group in a report on Wednesday, May 20th. Finally, Wall Street Zen cut Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.45.

Bitdeer Technologies Group Stock Performance

Shares of Bitdeer Technologies Group stock opened at $17.18 on Friday. The company has a market capitalization of $4.05 billion, a PE ratio of -4.98 and a beta of 2.45. The company has a 50-day simple moving average of $15.24 and a two-hundred day simple moving average of $12.25. Bitdeer Technologies Group has a one year low of $6.92 and a one year high of $27.80. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly 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 net margin of 68.11% and a negative return on equity of 69.95%. The firm had revenue of $188.93 million during the quarter, compared to the consensus estimate of $184.02 million. During the same quarter in the prior year, the business posted ($0.37) earnings per share. The firm’s quarterly revenue was up 169.5% on a year-over-year basis. Research analysts expect that Bitdeer Technologies Group will post -1.18 EPS for the current fiscal year.

Bitdeer Technologies Group Profile

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.