Fund Resources Investment Holding Group Co Ltd Purchases 796,287 Shares of Bitdeer Technologies Group $BTDR

Fund Resources Investment Holding Group Co Ltd bought a new position in shares of Bitdeer Technologies Group (NASDAQ:BTDR) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 796,287 shares of the company’s stock, valued at approximately $8,353,000. Bitdeer Technologies Group accounts for about 2.3% of Fund Resources Investment Holding Group Co Ltd’s investment portfolio, making the stock its 4th biggest position. Fund Resources Investment Holding Group Co Ltd owned 0.35% of Bitdeer Technologies Group at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BTDR. Funde Sino Life Insurance Co Ltd purchased a new position in Bitdeer Technologies Group in the third quarter valued at about $109,795,000. Situational Awareness LP boosted its stake in Bitdeer Technologies Group by 92.4% in the 1st quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock worth $29,751,000 after purchasing an additional 1,651,450 shares during the period. Bank of America Corp DE grew its holdings in Bitdeer Technologies Group by 1,366.7% during the 1st quarter. Bank of America Corp DE now owns 3,227,585 shares of the company’s stock valued at $27,919,000 after buying an additional 3,007,523 shares in the last quarter. Bank of Nova Scotia increased its holdings in Bitdeer Technologies Group by 91.1% during the 1st quarter. Bank of Nova Scotia now owns 1,369,447 shares of the company’s stock worth $11,846,000 after acquiring an additional 652,874 shares during the period. Finally, BlueCrest Capital Management Ltd boosted its stake in Bitdeer Technologies Group by 5,167.0% during the second quarter. BlueCrest Capital Management Ltd now owns 506,700 shares of the company’s stock valued at $8,041,000 after buying an additional 516,700 shares during the period. Institutional investors and hedge funds own 22.25% of the company’s stock.

Insider Buying and Selling

In other news, CFO Michael G. Potter acquired 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was bought at an average cost of $9.04 per share, for a total transaction of $226,000.00. Following the completion of the transaction, the chief financial officer directly owned 25,000 shares in the company, valued at $226,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Haris Basit bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $8.84 per share, for a total transaction of $221,000.00. Following the acquisition, the insider owned 35,000 shares of the company’s stock, valued at $309,400. This trade represents a 250.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ:BTDR traded up $0.70 during midday trading on Friday, hitting $6.01. The stock had a trading volume of 13,226,962 shares, compared to its average volume of 9,914,036. The company’s 50-day moving average price is $9.78 and its 200-day moving average price is $11.51. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20. Bitdeer Technologies Group has a fifty-two week low of $5.03 and a fifty-two week high of $23.30. The company has a market capitalization of $1.37 billion, a P/E ratio of -1.96 and a beta of 2.72.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) earnings per share (EPS) for the quarter. The company had revenue of $228.78 million for the quarter. Bitdeer Technologies Group had a negative return on equity of 54.72% and a negative net margin of 55.15%. As a group, equities research analysts predict that Bitdeer Technologies Group will post -1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $25.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday, September 15th. Barclays lifted their price objective on shares of Bitdeer Technologies Group from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Weiss Ratings lowered Bitdeer Technologies Group from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. HC Wainwright reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, October 2nd. Finally, Keefe, Bruyette & Woods dropped their target price on Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, August 13th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Bitdeer Technologies Group Profile

Bitdeer Technologies Group is a technology company focused on cryptocurrency mining and related infrastructure. The company operates a vertically integrated platform that includes cryptocurrency mining, miner hosting, and hash rate sharing services, allowing customers to participate in digital asset mining without managing all of the underlying hardware and facilities.

Bitdeer conducts self-mining operations and provides data center services for mining equipment. It also develops and manufactures application-specific integrated circuit (ASIC) mining machines through its SEALMINER product line, with the goal of improving mining performance and energy efficiency.