BIT Capital GmbH Sells 392,551 Shares of Bitdeer Technologies Group $BTDR

BIT Capital GmbH lessened its holdings in Bitdeer Technologies Group (NASDAQ:BTDR) by 71.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,278 shares of the company’s stock after selling 392,551 shares during the quarter. BIT Capital GmbH owned approximately 0.07% of Bitdeer Technologies Group worth $1,729,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Intech Investment Management LLC raised its holdings in Bitdeer Technologies Group by 49.8% in the 4th quarter. Intech Investment Management LLC now owns 41,252 shares of the company’s stock valued at $462,000 after buying an additional 13,711 shares during the last quarter. Geode Capital Management LLC raised its holdings in Bitdeer Technologies Group by 10.5% in the 4th quarter. Geode Capital Management LLC now owns 1,698,818 shares of the company’s stock valued at $19,042,000 after buying an additional 161,701 shares during the last quarter. Handelsbanken Fonder AB bought a new position in Bitdeer Technologies Group in the 4th quarter valued at approximately $262,000. ProShare Advisors LLC raised its holdings in Bitdeer Technologies Group by 17.4% in the 4th quarter. ProShare Advisors LLC now owns 18,023 shares of the company’s stock valued at $202,000 after buying an additional 2,670 shares during the last quarter. Finally, Phoenix Financial Ltd. bought a new position in Bitdeer Technologies Group in the 4th quarter valued at approximately $227,000. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Down 11.0%

Bitdeer Technologies Group stock opened at $17.47 on Friday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85. Bitdeer Technologies Group has a 52-week low of $6.92 and a 52-week high of $27.80. The firm has a 50 day moving average price of $12.93 and a two-hundred day moving average price of $11.65. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of -5.06 and a beta of 2.45.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The firm had revenue of $188.93 million for the quarter, compared to the consensus estimate of $184.02 million. During the same quarter in the previous year, the business posted ($0.37) EPS. The firm’s revenue for the quarter was up 169.5% compared to the same quarter last year. Equities analysts predict that Bitdeer Technologies Group will post -1.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BTDR. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Bitdeer Technologies Group in a report on Wednesday, May 20th. Benchmark dropped their price objective on shares of Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Weiss Ratings upgraded shares of Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Needham & Company LLC raised their price objective on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Wall Street Zen lowered shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Bitdeer Technologies Group Company 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.