Short Interest in Bitdeer Technologies Group (NASDAQ:BTDR) Declines By 21.4%

Bitdeer Technologies Group (NASDAQ:BTDR) saw a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 1,760,000 shares, a decrease of 21.4% from the March 31st total of 2,240,000 shares. Based on an average daily trading volume, of 1,700,000 shares, the short-interest ratio is presently 1.0 days. Currently, 6.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several large investors have recently added to or reduced their stakes in BTDR. Nomura Holdings Inc. purchased a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at $15,350,000. Van ECK Associates Corp grew its holdings in Bitdeer Technologies Group by 196.2% during the 4th quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock valued at $10,848,000 after purchasing an additional 728,804 shares during the last quarter. Exchange Traded Concepts LLC raised its position in Bitdeer Technologies Group by 83.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock worth $5,265,000 after purchasing an additional 243,245 shares during the period. EDBI Pte Ltd bought a new stake in Bitdeer Technologies Group in the third quarter worth about $3,444,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth approximately $1,199,000. 22.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BTDR. Roth Mkm assumed coverage on Bitdeer Technologies Group in a research note on Thursday, February 29th. They issued a “buy” rating and a $14.00 price objective for the company. Benchmark reaffirmed a “buy” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a report on Monday, April 15th. B. Riley assumed coverage on shares of Bitdeer Technologies Group in a report on Tuesday, March 12th. They issued a “buy” rating and a $9.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, March 26th. Finally, Needham & Company LLC initiated coverage on shares of Bitdeer Technologies Group in a report on Monday, April 15th. They issued a “buy” rating and a $14.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Bitdeer Technologies Group currently has an average rating of “Buy” and an average target price of $13.64.

Bitdeer Technologies Group Trading Down 5.0 %

Shares of BTDR stock traded down $0.32 on Monday, reaching $6.03. The company’s stock had a trading volume of 708,207 shares, compared to its average volume of 1,702,257. The stock’s fifty day simple moving average is $6.82 and its 200-day simple moving average is $6.45. Bitdeer Technologies Group has a 1 year low of $2.77 and a 1 year high of $14.65. The company has a market capitalization of $675.18 million, a price-to-earnings ratio of -14.45 and a beta of 1.70.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings data on Thursday, March 28th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.15). The business had revenue of $114.85 million for the quarter. Bitdeer Technologies Group had a negative net margin of 15.37% and a negative return on equity of 7.34%. Equities research analysts forecast that Bitdeer Technologies Group will post -0.07 earnings per share for the current year.

Bitdeer Technologies Group Company Profile

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.