Van ECK Associates Corp Has $14.47 Million Stake in Bitdeer Technologies Group $BTDR

Van ECK Associates Corp lessened its holdings in shares of Bitdeer Technologies Group (NASDAQ:BTDR) by 60.5% during the third quarter, HoldingsChannel.com reports. The firm owned 846,707 shares of the company’s stock after selling 1,296,282 shares during the quarter. Van ECK Associates Corp’s holdings in Bitdeer Technologies Group were worth $14,470,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Advisors Asset Management Inc. raised its position in shares of Bitdeer Technologies Group by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock valued at $30,000 after buying an additional 1,044 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Bitdeer Technologies Group by 7,157.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock worth $83,000 after buying an additional 7,157 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Bitdeer Technologies Group during the 2nd quarter worth $105,000. Entropy Technologies LP acquired a new position in Bitdeer Technologies Group in the 2nd quarter valued at $131,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Bitdeer Technologies Group in the 3rd quarter valued at $159,000. 22.25% of the stock is owned by institutional investors.

Bitdeer Technologies Group Price Performance

Shares of BTDR traded up $0.51 during midday trading on Friday, hitting $7.85. The company’s stock had a trading volume of 1,760,842 shares, compared to its average volume of 7,786,836. The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 0.28. Bitdeer Technologies Group has a one year low of $6.84 and a one year high of $27.80. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -2.50 and a beta of 2.40. The company’s fifty day simple moving average is $11.15 and its two-hundred day simple moving average is $14.10.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BTDR. UBS Group reissued a “buy” rating on shares of Bitdeer Technologies Group in a report on Thursday, February 12th. Needham & Company LLC dropped their price target on Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Rosenblatt Securities cut their price objective on shares of Bitdeer Technologies Group from $30.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Benchmark decreased their target price on shares of Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Finally, HC Wainwright dropped their target price on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $26.60.

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.