Azora Capital LP Makes New $23.82 Million Investment in Bitdeer Technologies Group $BTDR

Azora Capital LP purchased a new stake in Bitdeer Technologies Group (NASDAQ:BTDR) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,393,623 shares of the company’s stock, valued at approximately $23,817,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BTDR. Bank of America Corp DE grew its position in shares of Bitdeer Technologies Group by 67.5% during the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock worth $72,753,000 after buying an additional 2,553,093 shares in the last quarter. Geode Capital Management LLC raised its holdings in Bitdeer Technologies Group by 197.7% in the second quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock valued at $18,280,000 after acquiring an additional 1,057,552 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Bitdeer Technologies Group by 5,771.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 757,864 shares of the company’s stock valued at $8,700,000 after acquiring an additional 744,956 shares in the last quarter. Merewether Investment Management LP purchased a new position in Bitdeer Technologies Group in the third quarter worth approximately $10,283,000. Finally, Value Aligned Research Advisors LLC lifted its stake in Bitdeer Technologies Group by 58.1% in the third quarter. Value Aligned Research Advisors LLC now owns 1,316,500 shares of the company’s stock worth $22,499,000 after acquiring an additional 483,991 shares during the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on BTDR. Benchmark dropped their price objective on shares of Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Cantor Fitzgerald decreased their price objective on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, December 16th. BTIG Research reiterated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, January 16th. UBS Group reissued a “buy” rating on shares of Bitdeer Technologies Group in a report on Thursday, February 12th. Finally, HC Wainwright cut their price target on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.60.

Bitdeer Technologies Group Stock Performance

Shares of BTDR opened at $7.50 on Friday. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -2.39 and a beta of 2.40. Bitdeer Technologies Group has a 52-week low of $6.84 and a 52-week high of $27.80. The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average price of $11.07 and a 200 day moving average price of $14.07.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.59). The company had revenue of $224.84 million for the quarter, compared to analyst estimates of $208.25 million. Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.Bitdeer Technologies Group’s quarterly revenue was up 225.8% compared to the same quarter last year. Research analysts predict that Bitdeer Technologies Group will post -0.73 EPS for the current fiscal year.

About Bitdeer Technologies Group

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.