Alkeon Capital Management LLC Acquires New Stake in Bitdeer Technologies Group $BTDR

Alkeon Capital Management LLC acquired a new stake in shares of Bitdeer Technologies Group (NASDAQ:BTDR) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 475,000 shares of the company’s stock, valued at approximately $5,325,000. Alkeon Capital Management LLC owned 0.22% of Bitdeer Technologies Group at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BTDR. Fund Resources Investment Holding Group Co Ltd acquired a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $102,732,000. Bank of America Corp DE increased its stake in shares of Bitdeer Technologies Group by 67.5% during the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after acquiring an additional 2,553,093 shares during the period. Azora Capital LP acquired a new position in shares of Bitdeer Technologies Group during the third quarter valued at approximately $23,817,000. Situational Awareness LP increased its stake in shares of Bitdeer Technologies Group by 92.3% during 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 during the period. Finally, Van ECK Associates Corp increased its stake in shares of Bitdeer Technologies Group by 100.1% during the fourth quarter. Van ECK Associates Corp now owns 1,694,193 shares of the company’s stock valued at $18,992,000 after acquiring an additional 847,486 shares during the period. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock opened at $18.32 on Tuesday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85. The firm’s 50-day simple moving average is $14.00 and its 200-day simple moving average is $11.94. Bitdeer Technologies Group has a twelve month low of $6.92 and a twelve month high of $27.80. The firm has a market cap of $4.32 billion, a P/E ratio of -5.31 and a beta of 2.45.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $188.93 million for the quarter, compared to analyst estimates of $184.02 million. During the same quarter last year, the firm posted ($0.37) earnings per share. Bitdeer Technologies Group’s revenue was up 169.5% on a year-over-year basis. As a group, research analysts expect that Bitdeer Technologies Group will post -1.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BTDR. Weiss Ratings raised shares of Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. B. Riley Financial lifted their target price on shares of Bitdeer Technologies Group from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Zacks Research raised shares of Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Cantor Fitzgerald lifted their target price on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, May 20th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Bitdeer Technologies Group presently has a consensus rating of “Moderate Buy” and an average target price of $24.50.

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.