Van ECK Associates Corp Makes New Investment in Bitdeer Technologies Group (NASDAQ:BTDR)

Van ECK Associates Corp acquired a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,344,010 shares of the company’s stock, valued at approximately $29,125,000. Van ECK Associates Corp owned approximately 1.20% of Bitdeer Technologies Group at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Mirabella Financial Services LLP bought a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth about $5,872,000. Geode Capital Management LLC lifted its position in shares of Bitdeer Technologies Group by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock worth $2,886,000 after buying an additional 46,968 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 worth $1,933,000 after buying an additional 182,110 shares during the last quarter. State Street Corp bought a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth about $1,510,000. Finally, Shariaportfolio Inc. bought a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth about $1,039,000. 22.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. B. Riley raised their price target on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. HC Wainwright raised their price target on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Rosenblatt Securities lifted their price objective on shares of Bitdeer Technologies Group from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Benchmark lifted their price objective on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Needham & Company LLC lifted their price objective on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $22.23.

Bitdeer Technologies Group Trading Down 0.5 %

BTDR stock opened at $16.50 on Friday. Bitdeer Technologies Group has a 52 week low of $5.23 and a 52 week high of $26.99. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -31.73 and a beta of 2.04. The firm’s 50-day moving average is $19.86 and its two-hundred day moving average is $12.42.

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.