Symmetry Investments LP Invests $432,000 in Bitdeer Technologies Group (NASDAQ:BTDR)

Symmetry Investments LP acquired a new position in Bitdeer Technologies Group (NASDAQ:BTDR) during the 2nd quarter, HoldingsChannel reports. The fund acquired 42,100 shares of the company’s stock, valued at approximately $432,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. XTX Topco Ltd bought a new stake in shares of Bitdeer Technologies Group in the 2nd quarter valued at about $276,000. Thomist Capital Management LP acquired a new position in shares of Bitdeer Technologies Group in the second quarter worth approximately $1,156,000. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Bitdeer Technologies Group in the second quarter worth approximately $272,000. Virtu Financial LLC bought a new stake in Bitdeer Technologies Group in the first quarter valued at approximately $431,000. Finally, Vident Advisory LLC increased its position in Bitdeer Technologies Group by 186.4% during the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock valued at $6,098,000 after purchasing an additional 565,362 shares during the period. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Trading Up 4.9 %

BTDR opened at $7.13 on Friday. The company has a market cap of $798.32 million, a P/E ratio of -17.39 and a beta of 1.90. The company has a fifty day moving average price of $7.81 and a two-hundred day moving average price of $7.54. Bitdeer Technologies Group has a 1-year low of $2.77 and a 1-year high of $14.27.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). The firm had revenue of $99.23 million during the quarter, compared to the consensus estimate of $110.79 million. Bitdeer Technologies Group had a negative net margin of 5.69% and a negative return on equity of 2.56%. On average, research analysts forecast that Bitdeer Technologies Group will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday, September 3rd. Rosenblatt Securities restated a “buy” rating and issued a $9.00 target price on shares of Bitdeer Technologies Group in a report on Wednesday, August 14th. B. Riley increased their price target on Bitdeer Technologies Group from $9.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. Finally, Benchmark restated a “buy” rating and set a $16.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Bitdeer Technologies Group presently has a consensus rating of “Buy” and a consensus target price of $14.00.

About Bitdeer Technologies Group

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.