Pictet Asset Management Holding SA Makes New $220,000 Investment in Bitdeer Technologies Group (NASDAQ:BTDR)

Pictet Asset Management Holding SA purchased a new stake in Bitdeer Technologies Group (NASDAQ:BTDR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,164 shares of the company’s stock, valued at approximately $220,000.

A number of other large investors also recently bought and sold shares of the business. Stonebridge Financial Group LLC acquired a new position in Bitdeer Technologies Group in the 4th quarter valued at $65,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Bitdeer Technologies Group in the third quarter valued at about $66,000. SBI Securities Co. Ltd. purchased a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $79,000. Centiva Capital LP acquired a new position in Bitdeer Technologies Group during the third quarter worth about $91,000. Finally, Quantbot Technologies LP purchased a new stake in Bitdeer Technologies Group during the 4th quarter valued at about $116,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BTDR. Keefe, Bruyette & Woods initiated coverage on shares of Bitdeer Technologies Group in a research note on Monday, January 27th. They issued an “outperform” rating and a $26.50 target price on the stock. Roth Mkm reissued a “buy” rating and set a $23.50 price objective (down previously from $29.00) on shares of Bitdeer Technologies Group in a research note on Wednesday, February 26th. Needham & Company LLC dropped their target price on Bitdeer Technologies Group from $18.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. B. Riley lifted their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Benchmark dropped their price objective on shares of Bitdeer Technologies Group from $29.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $19.70.

Bitdeer Technologies Group Price Performance

Shares of BTDR opened at $7.95 on Friday. The firm has a 50-day simple moving average of $11.44 and a two-hundred day simple moving average of $13.47. Bitdeer Technologies Group has a 1-year low of $5.23 and a 1-year high of $26.99. The stock has a market cap of $890.13 million, a PE ratio of -15.29 and a beta of 2.25.

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.