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

Bitdeer Technologies Group (NASDAQ:BTDR) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 40,445 call options on the company. This is an increase of 106% compared to the typical volume of 19,597 call options.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several large investors have recently bought and sold shares of BTDR. Goldman Sachs Group Inc. boosted its holdings in shares of Bitdeer Technologies Group by 167.6% in the first quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock valued at $4,265,000 after acquiring an additional 302,548 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Bitdeer Technologies Group in the 2nd quarter valued at approximately $129,000. Amalgamated Bank acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter worth $35,000. Harvest Portfolios Group Inc. lifted its holdings in shares of Bitdeer Technologies Group by 76.3% in the second 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. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Bitdeer Technologies Group during the second quarter valued at $207,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. HC Wainwright decreased their target price on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. UBS Group reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research note on Thursday, February 12th. Rosenblatt Securities reduced their target price on Bitdeer Technologies Group from $30.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. BTIG Research restated a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, January 16th. Finally, Cantor Fitzgerald decreased their price target on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, December 16th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.60.

Bitdeer Technologies Group Stock Up 4.6%

Shares of BTDR opened at $7.91 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 0.91. The stock has a 50 day moving average price of $11.57 and a 200 day moving average price of $14.34. Bitdeer Technologies Group has a one year low of $6.84 and a one year high of $27.80. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -2.52 and a beta of 2.40.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly 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 net margin of 10.58% and a return on equity of 8.92%. The company had revenue of $224.84 million during the quarter, compared to analysts’ expectations of $208.25 million. The business’s revenue was up 225.8% compared to the same quarter last year. Equities research analysts forecast that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

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.