HCEP Management Ltd Invests $11.55 Million in Bitdeer Technologies Group (NASDAQ:BTDR)

HCEP Management Ltd purchased a new stake in shares of Bitdeer Technologies Group (NASDAQ:BTDR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 533,054 shares of the company’s stock, valued at approximately $11,551,000. Bitdeer Technologies Group accounts for 9.2% of HCEP Management Ltd’s holdings, making the stock its 4th biggest position.

A number of other large investors have also added to or reduced their stakes in BTDR. Yong Rong HK Asset Management Ltd purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at $65,010,000. Trivest Advisors Ltd purchased a new stake in Bitdeer Technologies Group during the fourth quarter valued at about $48,481,000. Van ECK Associates Corp purchased a new stake in Bitdeer Technologies Group during the fourth quarter valued at about $29,125,000. FengHe Fund Management Pte. Ltd. bought a new position in Bitdeer Technologies Group during the fourth quarter worth about $10,378,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $8,833,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BTDR. Benchmark cut their price objective on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Keefe, Bruyette & Woods initiated coverage on Bitdeer Technologies Group in a research report on Monday, January 27th. They set an “outperform” rating and a $26.50 target price on the stock. B. Riley lifted their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Rosenblatt Securities dropped their price objective on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Finally, Needham & Company LLC cut their target price on Bitdeer Technologies Group from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $21.00.

Bitdeer Technologies Group Stock Down 8.4 %

NASDAQ:BTDR opened at $8.03 on Friday. The stock has a market cap of $899.09 million, a P/E ratio of -15.44 and a beta of 2.25. The business’s 50-day moving average price is $12.73 and its two-hundred day moving average price is $13.42. Bitdeer Technologies Group has a twelve month low of $5.23 and a twelve month high of $26.99.

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.