Shariaportfolio Inc. Takes $1.04 Million Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Shariaportfolio Inc. purchased a new stake in Bitdeer Technologies Group (NASDAQ:BTDR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 132,732 shares of the company’s stock, valued at approximately $1,039,000. Bitdeer Technologies Group accounts for approximately 0.6% of Shariaportfolio Inc.’s holdings, making the stock its 24th largest position.

Several other hedge funds have also made changes to their positions in BTDR. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of Bitdeer Technologies Group in the 2nd quarter valued at approximately $272,000. XTX Topco Ltd acquired a new stake in Bitdeer Technologies Group during the 2nd quarter worth approximately $276,000. Virtu Financial LLC acquired a new stake in Bitdeer Technologies Group during the 1st quarter worth approximately $431,000. Symmetry Investments LP acquired a new stake in Bitdeer Technologies Group during the 2nd quarter worth approximately $432,000. Finally, Thomist Capital Management LP purchased a new stake in shares of Bitdeer Technologies Group in the 2nd quarter valued at approximately $1,156,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Performance

Shares of Bitdeer Technologies Group stock opened at $8.32 on Tuesday. Bitdeer Technologies Group has a 1 year low of $2.77 and a 1 year high of $14.27. The company has a market capitalization of $931.56 million, a P/E ratio of -20.29 and a beta of 1.92. The company’s fifty day moving average is $7.07 and its two-hundred day moving average is $7.61.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.06). Bitdeer Technologies Group had a negative return on equity of 2.56% and a negative net margin of 5.69%. The business had revenue of $99.23 million for the quarter, compared to analysts’ expectations of $110.79 million. As a group, equities analysts expect that Bitdeer Technologies Group will post -0.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Benchmark reissued a “buy” rating and issued a $16.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. Rosenblatt Securities reissued a “buy” rating and issued a $9.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, October 8th. Alliance Global Partners assumed coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Finally, HC Wainwright dropped their price objective on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Bitdeer Technologies Group has a consensus rating of “Buy” and an average target price of $13.70.

Bitdeer Technologies Group 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.