Geode Capital Management LLC Purchases 1,057,552 Shares of Bitdeer Technologies Group $BTDR

Geode Capital Management LLC lifted its position in Bitdeer Technologies Group (NASDAQ:BTDR) by 197.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,592,504 shares of the company’s stock after acquiring an additional 1,057,552 shares during the period. Geode Capital Management LLC’s holdings in Bitdeer Technologies Group were worth $18,280,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BTDR. SBI Securities Co. Ltd. grew its holdings in Bitdeer Technologies Group by 42.7% during the 2nd quarter. SBI Securities Co. Ltd. now owns 31,407 shares of the company’s stock valued at $361,000 after purchasing an additional 9,405 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of Bitdeer Technologies Group during the second quarter valued at approximately $211,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Bitdeer Technologies Group during the second quarter valued at approximately $207,000. Harvest Portfolios Group Inc. grew its stake in shares of Bitdeer Technologies Group by 76.3% during the second quarter. Harvest Portfolios Group Inc. now owns 64,469 shares of the company’s stock valued at $740,000 after buying an additional 27,891 shares during the last quarter. Finally, Amalgamated Bank purchased a new stake in shares of Bitdeer Technologies Group in the second quarter worth approximately $35,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Stock Performance

Shares of Bitdeer Technologies Group stock opened at $13.43 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average price is $18.28 and its 200-day moving average price is $15.19. The firm has a market cap of $2.84 billion, a P/E ratio of -2.39 and a beta of 2.28. Bitdeer Technologies Group has a 12 month low of $6.84 and a 12 month high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings data on Monday, November 10th. The company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.06). Bitdeer Technologies Group had a negative return on equity of 91.31% and a negative net margin of 115.59%.The business had revenue of $169.71 million during the quarter, compared to analysts’ expectations of $151.80 million. During the same period last year, the company earned ($0.35) earnings per share. The firm’s revenue was up 173.7% compared to the same quarter last year. On average, equities research analysts expect that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

BTDR has been the subject of a number of recent analyst reports. Benchmark restated a “buy” rating on shares of Bitdeer Technologies Group in a report on Monday, October 20th. HC Wainwright decreased their target price on Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Needham & Company LLC upped their price target on shares of Bitdeer Technologies Group from $17.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Wall Street Zen downgraded shares of Bitdeer Technologies Group from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Finally, Roth Capital reissued a “buy” rating and issued a $40.00 price objective on shares of Bitdeer Technologies Group in a research report on Wednesday, October 15th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Bitdeer Technologies Group currently has a consensus rating of “Moderate Buy” and an average price target of $30.33.

About Bitdeer Technologies Group

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.