Central Asset Investments & Management Holdings HK Ltd Invests $272,000 in Bitdeer Technologies Group (NASDAQ:BTDR)

Central Asset Investments & Management Holdings HK Ltd bought a new stake in Bitdeer Technologies Group (NASDAQ:BTDR) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 26,500 shares of the company’s stock, valued at approximately $272,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Bitdeer Technologies Group in the first quarter worth approximately $431,000. Vident Advisory LLC lifted its position in shares of Bitdeer Technologies Group by 186.4% during the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock worth $6,098,000 after purchasing an additional 565,362 shares during the last quarter. Van ECK Associates Corp grew its stake 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 worth $8,537,000 after purchasing an additional 115,882 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of Bitdeer Technologies Group during the fourth quarter worth $15,350,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Bitdeer Technologies Group Trading Up 3.0 %

Shares of BTDR opened at $7.12 on Wednesday. The company’s 50 day simple moving average is $8.02 and its 200-day simple moving average is $7.54. The firm has a market cap of $797.20 million, a PE ratio of -17.37 and a beta of 1.90. Bitdeer Technologies Group has a 12-month low of $2.77 and a 12-month high of $14.65.

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%. As a group, equities research analysts forecast that Bitdeer Technologies Group will post -0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on BTDR. Benchmark restated a “buy” rating and issued a $16.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. Rosenblatt Securities restated a “buy” rating and set a $9.00 target price on shares of Bitdeer Technologies Group in a research note on Wednesday, August 14th. B. Riley upped their price target on Bitdeer Technologies Group from $9.00 to $14.00 and gave the company a “buy” rating in a report on Friday, July 12th. Needham & Company LLC reissued a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, August 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, September 3rd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $14.00.

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.