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

Bitdeer Technologies Group (NASDAQ:BTDR) was the recipient of unusually large options trading activity on Thursday. Traders bought 36,545 call options on the company. This represents an increase of 84% compared to the average volume of 19,817 call options.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BTDR. Rosenblatt Securities reiterated a “buy” rating and set a $18.00 price objective on shares of Bitdeer Technologies Group in a report on Wednesday, March 18th. HC Wainwright reduced their target price on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Zacks Research downgraded shares of Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a research note on Monday, March 16th. BTIG Research restated a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, January 16th. Finally, Benchmark decreased their target price on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.60.

Bitdeer Technologies Group Trading Up 1.3%

NASDAQ BTDR opened at $8.71 on Friday. Bitdeer Technologies Group has a one year low of $6.84 and a one 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. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -2.77 and a beta of 2.40. The company’s 50-day simple moving average is $10.32 and its two-hundred day simple moving average is $13.76.

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

Institutional Trading of Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently bought and sold shares of BTDR. Invesco Ltd. boosted its stake in Bitdeer Technologies Group by 3.7% in the fourth quarter. Invesco Ltd. now owns 71,930 shares of the company’s stock valued at $806,000 after acquiring an additional 2,597 shares in the last quarter. Vident Advisory LLC increased its position in shares of Bitdeer Technologies Group by 39.3% during the fourth quarter. Vident Advisory LLC now owns 1,186,662 shares of the company’s stock worth $13,302,000 after purchasing an additional 334,548 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at $34,000. Vennlight Capital Management LP acquired a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth $1,030,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth $604,000. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

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.