133,272 Shares in Bitdeer Technologies Group $BTDR Bought by Engineers Gate Manager LP

Engineers Gate Manager LP acquired a new stake in shares of Bitdeer Technologies Group (NASDAQ:BTDR) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 133,272 shares of the company’s stock, valued at approximately $2,115,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BTDR. Integrated Wealth Concepts LLC purchased a new stake in shares of Bitdeer Technologies Group in the 2nd quarter valued at about $100,000. Spark Investment Management LLC bought a new stake in shares of Bitdeer Technologies Group during the 2nd quarter valued at about $241,000. Corient Private Wealth LP purchased a new position in shares of Bitdeer Technologies Group during the second quarter worth about $164,000. Public Employees Retirement System of Ohio purchased a new position in shares of Bitdeer Technologies Group during the second quarter worth about $506,000. Finally, Handelsbanken Fonder AB increased its position in shares of Bitdeer Technologies Group by 59.4% in the second quarter. Handelsbanken Fonder AB now owns 37,300 shares of the company’s stock worth $592,000 after purchasing an additional 13,900 shares during the last quarter. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ BTDR opened at $10.91 on Wednesday. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -3.57 and a beta of 2.51. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.20. Bitdeer Technologies Group has a 1-year low of $6.92 and a 1-year high of $27.80. The stock’s 50-day moving average is $11.09 and its 200 day moving average is $12.16.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its earnings results on Tuesday, June 30th. The company reported ($0.37) earnings per share (EPS) for the quarter. Bitdeer Technologies Group had a negative return on equity of 54.72% and a negative net margin of 55.15%.The firm had revenue of $228.78 million during the quarter. On average, sell-side analysts anticipate that Bitdeer Technologies Group will post -1.72 EPS for the current fiscal year.

Insider Buying and Selling

In other Bitdeer Technologies Group news, CFO Michael Potter acquired 25,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $9.04 per share, for a total transaction of $226,000.00. Following the acquisition, the chief financial officer owned 25,000 shares in the company, valued at $226,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Haris Basit acquired 25,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $8.84 per share, with a total value of $221,000.00. Following the purchase, the insider directly owned 35,000 shares in the company, valued at $309,400. This represents a 250.00% increase in their position. The disclosure for this purchase is available in the SEC filing.

Wall Street Analyst Weigh In

BTDR has been the topic of a number of recent analyst reports. Barclays started coverage on shares of Bitdeer Technologies Group in a research note on Thursday, August 20th. They issued an “overweight” rating and a $15.00 target price on the stock. Citizens Jmp started coverage on shares of Bitdeer Technologies Group in a research note on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 price target for the company. Needham & Company LLC decreased their price target on shares of Bitdeer Technologies Group from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Keefe, Bruyette & Woods lowered their price objective on shares of Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating on the stock in a research report on Thursday, August 13th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $25.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.00.

Bitdeer Technologies Group Profile

Bitdeer Technologies Group (NASDAQ: BTDR) is a technology company focused on blockchain and high-performance computing infrastructure. Its primary business is cryptocurrency mining, including self-mining, hash rate sharing and mining machine hosting services. The company provides customers with access to mining capacity, data-center infrastructure and related operational support.

Bitdeer also designs and develops application-specific integrated circuit (ASIC) mining machines through its SEALMINER product line.