Bitdeer Technologies Group Sees Unusually High Options Volume (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR) saw some unusual options trading on Wednesday. Traders acquired 2,153 put options on the company. This is an increase of approximately 264% compared to the typical volume of 592 put options.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of large investors have recently bought and sold shares of BTDR. Barclays PLC bought a new position in Bitdeer Technologies Group in the third quarter worth approximately $49,000. Swiss National Bank bought a new position in Bitdeer Technologies Group in the third quarter worth approximately $604,000. Exchange Traded Concepts LLC raised its stake in Bitdeer Technologies Group by 83.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock worth $5,265,000 after buying an additional 243,245 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Bitdeer Technologies Group by 149.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock worth $384,000 after buying an additional 23,310 shares in the last quarter. Finally, Vontobel Holding Ltd. bought a new position in Bitdeer Technologies Group in the fourth quarter worth approximately $240,000. Institutional investors own 22.25% of the company’s stock.

Analyst Ratings Changes

BTDR has been the subject of a number of analyst reports. BTIG Research initiated coverage on Bitdeer Technologies Group in a research report on Wednesday, March 13th. They set a “buy” rating and a $15.00 price objective for the company. Roth Mkm assumed coverage on Bitdeer Technologies Group in a research note on Thursday, February 29th. They set a “buy” rating and a $14.00 target price on the stock. Cantor Fitzgerald upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, June 12th. Rosenblatt Securities assumed coverage on Bitdeer Technologies Group in a research note on Tuesday, April 9th. They set a “buy” rating and a $10.50 target price on the stock. Finally, B. Riley assumed coverage on Bitdeer Technologies Group in a research note on Tuesday, March 12th. They set a “buy” rating and a $9.00 target price on the stock. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $13.56.

Bitdeer Technologies Group Trading Down 7.8 %

Shares of NASDAQ BTDR opened at $9.25 on Thursday. The stock has a 50 day moving average price of $6.77 and a 200 day moving average price of $7.24. Bitdeer Technologies Group has a 52-week low of $2.77 and a 52-week high of $14.65.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings results on Monday, May 13th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). The firm had revenue of $119.51 million during the quarter, compared to analysts’ expectations of $119.12 million. Bitdeer Technologies Group had a negative net margin of 11.21% and a negative return on equity of 3.98%. Research analysts predict that Bitdeer Technologies Group will post -0.01 earnings per share for the current fiscal year.

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.