Bitdeer Technologies Group Target of Unusually Large Options Trading (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR) saw unusually large options trading on Thursday. Stock traders bought 116,024 call options on the company. This is an increase of approximately 444% compared to the typical daily volume of 21,346 call options.

Bitdeer Technologies Group Stock Down 11.8%

BTDR stock opened at $11.01 on Friday. The stock has a market cap of $2.33 billion, a PE ratio of -1.96 and a beta of 2.33. The firm’s 50-day simple moving average is $12.36 and its 200 day simple moving average is $14.87. Bitdeer Technologies Group has a fifty-two week low of $6.84 and a fifty-two week high of $27.80. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.46.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Monday, November 10th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.06). Bitdeer Technologies Group had a negative net margin of 115.59% and a negative return on equity of 91.31%. The firm had revenue of $169.71 million for the quarter, compared to analyst estimates of $151.80 million. During the same period in the previous year, the firm earned ($0.35) earnings per share. The company’s revenue for the quarter was up 173.7% on a year-over-year basis. As a group, sell-side analysts predict that Bitdeer Technologies Group will post -0.73 EPS for the current year.

Institutional Trading of Bitdeer Technologies Group

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in shares of Bitdeer Technologies Group by 197.7% during the second quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock valued at $18,280,000 after acquiring an additional 1,057,552 shares during the period. Harvest Portfolios Group Inc. boosted its stake in Bitdeer Technologies Group by 76.3% during the 2nd quarter. Harvest Portfolios Group Inc. now owns 64,469 shares of the company’s stock valued at $740,000 after purchasing an additional 27,891 shares in the last quarter. Great Lakes Advisors LLC bought a new position in Bitdeer Technologies Group during the 3rd quarter valued at $1,355,000. Highbridge Capital Management LLC acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter valued at $3,255,000. Finally, Intech Investment Management LLC bought a new stake in shares of Bitdeer Technologies Group in the 2nd quarter worth $501,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BTDR shares. Rosenblatt Securities set a $5.90 price target on Bitdeer Technologies Group in a research report on Wednesday, January 14th. Roth Mkm reissued a “buy” rating and set a $40.00 target price on shares of Bitdeer Technologies Group in a report on Wednesday, October 15th. Cantor Fitzgerald reduced their price target on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research report on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $14.00 price objective (down previously from $26.50) on shares of Bitdeer Technologies Group in a research note on Tuesday, January 27th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.39.

About Bitdeer Technologies Group

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.