Trivest Advisors Ltd Acquires Shares of 2,237,248 Bitdeer Technologies Group (NASDAQ:BTDR)

Trivest Advisors Ltd bought a new stake in Bitdeer Technologies Group (NASDAQ:BTDR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,237,248 shares of the company’s stock, valued at approximately $48,481,000. Bitdeer Technologies Group comprises 2.2% of Trivest Advisors Ltd’s investment portfolio, making the stock its 17th biggest position. Trivest Advisors Ltd owned 2.00% of Bitdeer Technologies Group at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BTDR. Charles Schwab Investment Management Inc. grew its position in Bitdeer Technologies Group by 281.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock valued at $1,933,000 after buying an additional 182,110 shares during the last quarter. Mirabella Financial Services LLP purchased a new stake in shares of Bitdeer Technologies Group in the third quarter valued at about $5,872,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Bitdeer Technologies Group during the third quarter worth about $169,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Bitdeer Technologies Group during the third quarter worth about $220,000. Finally, Centiva Capital LP acquired a new stake in Bitdeer Technologies Group in the third quarter valued at about $91,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Price Performance

BTDR stock opened at $9.48 on Wednesday. The company’s 50 day simple moving average is $15.38 and its 200-day simple moving average is $13.21. Bitdeer Technologies Group has a 12 month low of $5.23 and a 12 month high of $26.99. The firm has a market capitalization of $1.06 billion, a PE ratio of -18.23 and a beta of 2.12.

Wall Street Analyst Weigh In

BTDR has been the subject of a number of analyst reports. Needham & Company LLC cut their target price on Bitdeer Technologies Group from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Northland Securities raised their target price on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Keefe, Bruyette & Woods began coverage on shares of Bitdeer Technologies Group in a research note on Monday, January 27th. They set an “outperform” rating and a $26.50 price target on the stock. Benchmark reduced 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 research note on Wednesday, February 26th. Finally, Roth Mkm restated a “buy” rating and set a $23.50 target price (down from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $21.30.

Bitdeer Technologies Group Company 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.