Yong Rong HK Asset Management Ltd Takes Position in Bitdeer Technologies Group (NASDAQ:BTDR)

Yong Rong HK Asset Management Ltd bought a new stake in shares of Bitdeer Technologies Group (NASDAQ:BTDR) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,000,000 shares of the company’s stock, valued at approximately $65,010,000. Bitdeer Technologies Group makes up 28.3% of Yong Rong HK Asset Management Ltd’s portfolio, making the stock its biggest position. Yong Rong HK Asset Management Ltd owned about 2.68% of Bitdeer Technologies Group as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp acquired a new stake in Bitdeer Technologies Group in the fourth quarter valued at approximately $29,125,000. Mirabella Financial Services LLP acquired a new stake in Bitdeer Technologies Group during the 3rd quarter valued at $5,872,000. FengHe Fund Management Pte. Ltd. purchased a new stake in Bitdeer Technologies Group during the 4th quarter worth $10,378,000. Geode Capital Management LLC lifted its holdings in Bitdeer Technologies Group by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock worth $2,886,000 after buying an additional 46,968 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Bitdeer Technologies Group by 281.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,834 shares of the company’s stock valued at $1,933,000 after buying an additional 182,110 shares during the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Stock Down 12.4 %

BTDR opened at $13.09 on Friday. The company’s 50-day moving average price is $19.22 and its 200 day moving average price is $12.73. Bitdeer Technologies Group has a fifty-two week low of $5.23 and a fifty-two week high of $26.99. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -25.16 and a beta of 2.04.

Analyst Ratings Changes

BTDR has been the topic of a number of analyst reports. Needham & Company LLC lifted their target price on Bitdeer Technologies Group from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Northland Securities raised their price target on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Keefe, Bruyette & Woods initiated coverage on shares of Bitdeer Technologies Group in a report on Monday, January 27th. They issued an “outperform” rating and a $26.50 price target on the stock. HC Wainwright raised their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, B. Riley boosted their target price on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $22.23.

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.