Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Up 63.1% in February

Bitdeer Technologies Group (NASDAQ:BTDR) saw a significant growth in short interest in February. As of February 27th, there was short interest totaling 45,421,811 shares, a growth of 63.1% from the February 12th total of 27,847,829 shares. Based on an average daily trading volume, of 14,401,642 shares, the days-to-cover ratio is currently 3.2 days. Currently, 21.5% of the company’s shares are sold short. Currently, 21.5% of the company’s shares are sold short. Based on an average daily trading volume, of 14,401,642 shares, the days-to-cover ratio is currently 3.2 days.

Institutional Trading of Bitdeer Technologies Group

Institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in shares of Bitdeer Technologies Group by 3.7% in the 4th quarter. Invesco Ltd. now owns 71,930 shares of the company’s stock valued at $806,000 after purchasing an additional 2,597 shares during the last quarter. Vident Advisory LLC lifted its position in shares of Bitdeer Technologies Group by 39.3% in the fourth quarter. Vident Advisory LLC now owns 1,186,662 shares of the company’s stock worth $13,302,000 after buying an additional 334,548 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth about $34,000. Vennlight Capital Management LP acquired a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at about $1,030,000. Finally, Engineers Gate Manager LP acquired a new stake in Bitdeer Technologies Group in the 4th quarter worth approximately $604,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Stock Up 2.2%

BTDR stock traded up $0.16 during midday trading on Friday, reaching $7.50. The company had a trading volume of 5,264,371 shares, compared to its average volume of 7,872,110. The company has a 50 day moving average of $11.15 and a two-hundred day moving average of $14.10. The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 0.28. Bitdeer Technologies Group has a 1 year low of $6.84 and a 1 year high of $27.80. The company has a market capitalization of $1.59 billion, a P/E ratio of -2.39 and a beta of 2.40.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings results 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). Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The company had revenue of $224.84 million during the quarter, compared to analyst estimates of $208.25 million. The firm’s revenue was up 225.8% compared to the same quarter last year. On average, equities research analysts expect that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BTDR shares. Benchmark dropped 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 research report on Tuesday, February 10th. Cantor Fitzgerald lowered their price objective on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. Needham & Company LLC reduced their target price on Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating for the company in a report on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research report on Wednesday, January 21st. Finally, BTIG Research reissued a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, January 16th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.60.

Bitdeer Technologies Group Company Profile

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.