Bitdeer Technologies Group Sees Unusually Large Options Volume (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR) saw some unusual options trading on Wednesday. Investors acquired 40,445 call options on the company. This is an increase of approximately 106% compared to the typical daily volume of 19,597 call options.

Analyst Upgrades and Downgrades

BTDR has been the subject of a number of analyst reports. Rosenblatt Securities cut their target price on Bitdeer Technologies Group from $30.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, February 9th. B. Riley Financial cut their price objective on Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. BTIG Research reissued a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, January 16th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $14.00 price target (down from $26.50) on shares of Bitdeer Technologies Group in a research note on Tuesday, January 27th. Finally, Cantor Fitzgerald cut their price target on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a report on Tuesday, December 16th. Ten 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.60.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently made changes to their positions in BTDR. Invesco Ltd. increased its position in Bitdeer Technologies Group by 3.7% during the fourth quarter. Invesco Ltd. now owns 71,930 shares of the company’s stock worth $806,000 after purchasing an additional 2,597 shares during the last quarter. Vident Advisory LLC grew its stake in shares of Bitdeer Technologies Group by 39.3% during the 4th quarter. Vident Advisory LLC now owns 1,186,662 shares of the company’s stock valued at $13,302,000 after buying an additional 334,548 shares during the period. Empowered Funds LLC acquired a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth $34,000. Vennlight Capital Management LP purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter worth $1,030,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter worth $604,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Bitdeer Technologies Group Price Performance

NASDAQ:BTDR traded up $0.33 during mid-day trading on Wednesday, hitting $7.89. 10,334,001 shares of the company’s stock traded hands, compared to its average volume of 7,962,904. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 0.91. The firm’s 50 day simple moving average is $11.64 and its 200 day simple moving average is $14.39. Bitdeer Technologies Group has a 1 year low of $6.84 and a 1 year high of $27.80. The company has a market cap of $1.67 billion, a PE ratio of -2.54 and a beta of 2.40.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.59). Bitdeer Technologies Group had a net margin of 10.58% and a return on equity of 8.92%. The business had revenue of $224.84 million during the quarter, compared to analyst estimates of $208.25 million. The company’s revenue was up 225.8% compared to the same quarter last year. Sell-side analysts expect that Bitdeer Technologies Group will post -0.73 EPS for the current year.

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.