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

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of some unusual options trading on Friday. Stock investors purchased 34,680 call options on the stock. This represents an increase of 69% compared to the average volume of 20,572 call options.

Analysts Set New Price Targets

Several research firms recently commented on BTDR. BTIG Research reiterated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, January 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, January 21st. Zacks Research lowered Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a research note on Monday, March 16th. Benchmark dropped their target price on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $14.00 target price (down from $26.50) on shares of Bitdeer Technologies Group in a research note on Tuesday, January 27th. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.20.

Bitdeer Technologies Group Stock Up 4.4%

BTDR opened at $10.79 on Friday. The firm has a 50 day moving average price of $9.24 and a 200 day moving average price of $13.29. The company has a market cap of $2.28 billion, a PE ratio of -3.44 and a beta of 2.28. Bitdeer Technologies Group has a 1 year low of $6.84 and a 1 year high of $27.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 0.91.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Thursday, February 12th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.59). Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The business had revenue of $224.84 million for the quarter, compared to analyst estimates of $208.25 million. Bitdeer Technologies Group’s revenue was up 225.8% on a year-over-year basis. Sell-side analysts expect that Bitdeer Technologies Group will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of large investors have recently modified their holdings of BTDR. Fund Resources Investment Holding Group Co Ltd acquired a new stake in Bitdeer Technologies Group during the 4th quarter valued at approximately $102,732,000. Bank of America Corp DE grew its stake in Bitdeer Technologies Group by 67.5% during the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after purchasing an additional 2,553,093 shares in the last quarter. Value Aligned Research Advisors LLC grew its stake in Bitdeer Technologies Group by 137.0% during the 4th quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after purchasing an additional 1,888,825 shares in the last quarter. State Street Corp grew its stake in Bitdeer Technologies Group by 34.1% during the 4th quarter. State Street Corp now owns 3,144,782 shares of the company’s stock valued at $35,253,000 after purchasing an additional 800,003 shares in the last quarter. Finally, UBS Group AG grew its stake in Bitdeer Technologies Group by 2.4% during the 4th quarter. UBS Group AG now owns 2,246,381 shares of the company’s stock valued at $25,182,000 after purchasing an additional 52,808 shares in the last quarter. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.