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

Bitdeer Technologies Group (NASDAQ:BTDR) saw some unusual options trading on Friday. Stock investors acquired 42,998 call options on the company. This represents an increase of approximately 276% compared to the typical daily volume of 11,429 call options.

Analysts Set New Price Targets

BTDR has been the topic of a number of research reports. HC Wainwright upped their target price on Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 18th. B. Riley reiterated a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Wall Street Zen cut Bitdeer Technologies Group from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Benchmark restated a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, August 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price objective on shares of Bitdeer Technologies Group in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $20.80.

Bitdeer Technologies Group Trading Up 14.5%

NASDAQ:BTDR opened at $16.15 on Friday. The stock’s 50 day moving average price is $13.45 and its 200 day moving average price is $12.02. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 1.03. Bitdeer Technologies Group has a 52 week low of $6.34 and a 52 week high of $26.99. The company has a market capitalization of $3.42 billion, a P/E ratio of -3.44 and a beta of 2.23.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in BTDR. Northern Trust Corp acquired a new stake in Bitdeer Technologies Group in the 4th quarter worth approximately $813,000. BNP Paribas Financial Markets acquired a new stake in Bitdeer Technologies Group in the 4th quarter worth approximately $1,209,000. Bank of America Corp DE lifted its holdings in Bitdeer Technologies Group by 286.8% in the 4th quarter. Bank of America Corp DE now owns 73,253 shares of the company’s stock worth $1,587,000 after purchasing an additional 54,314 shares during the last quarter. Deutsche Bank AG lifted its holdings in Bitdeer Technologies Group by 173.7% in the 4th quarter. Deutsche Bank AG now owns 16,525 shares of the company’s stock worth $358,000 after purchasing an additional 10,488 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Bitdeer Technologies Group by 3.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,358 shares of the company’s stock worth $636,000 after purchasing an additional 916 shares during the last quarter. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.