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

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of some unusual options trading on Wednesday. Stock investors acquired 103,378 call options on the stock. This represents an increase of 86% compared to the average volume of 55,557 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Fund Resources Investment Holding Group Co Ltd increased its position in Bitdeer Technologies Group by 3.0% in the first quarter. Fund Resources Investment Holding Group Co Ltd now owns 9,440,418 shares of the company’s stock worth $81,660,000 after purchasing an additional 276,098 shares during the last quarter. Bank of America Corp DE raised its position in Bitdeer Technologies Group by 67.5% during the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after purchasing an additional 2,553,093 shares during the period. Situational Awareness LP raised its position in Bitdeer Technologies Group by 92.4% during the first quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock valued at $29,751,000 after purchasing an additional 1,651,450 shares during the period. Value Aligned Research Advisors LLC lifted its stake in shares of Bitdeer Technologies Group by 137.0% in the 4th quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after purchasing an additional 1,888,825 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Bitdeer Technologies Group by 34.1% in the 4th quarter. State Street Corp now owns 3,144,782 shares of the company’s stock worth $35,253,000 after purchasing an additional 800,003 shares during the period. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Performance

NASDAQ:BTDR traded down $1.06 during trading hours on Wednesday, reaching $9.22. The company had a trading volume of 15,852,566 shares, compared to its average volume of 8,586,964. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -2.67 and a beta of 2.47. Bitdeer Technologies Group has a 52 week low of $6.92 and a 52 week high of $27.80. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88. The firm’s 50 day moving average price is $15.29 and its 200-day moving average price is $12.52.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The firm had revenue of $188.93 million during the quarter, compared to the consensus estimate of $184.02 million. During the same period in the previous year, the firm earned ($0.37) EPS. The business’s revenue was up 169.5% on a year-over-year basis. On average, analysts forecast that Bitdeer Technologies Group will post -1.18 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BTDR. Rosenblatt Securities upped their target price on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Keefe, Bruyette & Woods lowered their price target on Bitdeer Technologies Group from $17.00 to $14.00 and set a “market perform” rating for the company in a research report on Tuesday. Cantor Fitzgerald upped their target price on Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Wall Street Zen lowered Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Finally, Zacks Research upgraded shares of Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.45.

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.