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

Bitdeer Technologies Group (NASDAQ:BTDR) saw unusually large options trading on Monday. Stock traders purchased 12,153 call options on the stock. This is an increase of 143% compared to the average volume of 5,007 call options.

Bitdeer Technologies Group Stock Up 6.9 %

Shares of BTDR opened at $11.85 on Tuesday. The business has a 50-day simple moving average of $8.04 and a two-hundred day simple moving average of $8.02. Bitdeer Technologies Group has a 12-month low of $3.91 and a 12-month high of $14.27. The stock has a market cap of $1.33 billion, a PE ratio of -62.37 and a beta of 1.92.

Analyst Ratings Changes

A number of brokerages recently commented on BTDR. Northland Securities initiated coverage on Bitdeer Technologies Group in a research note on Wednesday, October 9th. They issued an “outperform” rating and a $13.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a report on Thursday, September 26th. HC Wainwright reduced their price target on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Benchmark restated a “buy” rating and set a $16.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $9.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $13.70.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently added to or reduced their stakes in BTDR. Public Employees Retirement System of Ohio acquired a new stake in Bitdeer Technologies Group in the third quarter valued at $66,000. Centiva Capital LP bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $91,000. Barclays PLC acquired a new stake in shares of Bitdeer Technologies Group in the third quarter valued at about $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Bitdeer Technologies Group during the third quarter worth about $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Bitdeer Technologies Group in the third quarter valued at approximately $220,000. 22.25% of the stock is owned by institutional investors.

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.