Traders Buy Large Volume of Call Options on Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of some unusual options trading activity on Wednesday. Stock investors bought 17,041 call options on the stock. This is an increase of approximately 57% compared to the average daily volume of 10,887 call options.

Analysts Set New Price Targets

A number of analysts have weighed in on BTDR shares. Keefe, Bruyette & Woods started coverage on shares of Bitdeer Technologies Group in a research note on Monday, January 27th. They set an “outperform” rating and a $26.50 target price on the stock. Northland Securities boosted their price objective on Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. HC Wainwright reiterated a “buy” rating and issued a $21.00 target price (down from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. Roth Mkm restated a “buy” rating and set a $23.50 price target (down from $29.00) on shares of Bitdeer Technologies Group in a report on Wednesday, February 26th. Finally, Needham & Company LLC dropped their price objective on shares of Bitdeer Technologies Group from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Bitdeer Technologies Group has a consensus rating of “Buy” and an average target price of $19.50.

Bitdeer Technologies Group Stock Performance

NASDAQ:BTDR opened at $9.85 on Thursday. The company has a market capitalization of $1.10 billion, a PE ratio of -18.93 and a beta of 2.25. Bitdeer Technologies Group has a fifty-two week low of $5.25 and a fifty-two week high of $26.99. The company has a 50 day simple moving average of $10.10 and a two-hundred day simple moving average of $13.46.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several large investors have recently modified their holdings of the company. Quarry LP bought a new stake in Bitdeer Technologies Group during the fourth quarter valued at $42,000. Stonebridge Financial Group LLC bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at about $65,000. SBI Securities Co. Ltd. acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth approximately $79,000. Wells Fargo & Company MN grew its stake in Bitdeer Technologies Group by 56.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock worth $93,000 after purchasing an additional 1,540 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Bitdeer Technologies Group in the fourth quarter worth approximately $116,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

About Bitdeer Technologies Group

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.