Stock Traders Buy High Volume of Bitdeer Technologies Group Put Options (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR) saw some unusual options trading on Monday. Stock traders bought 12,480 put options on the company. This is an increase of approximately 24% compared to the typical volume of 10,070 put options.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $65,000. Public Employees Retirement System of Ohio bought a new position in Bitdeer Technologies Group during the 3rd quarter worth approximately $66,000. Centiva Capital LP acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth $91,000. International Assets Investment Management LLC acquired a new stake in Bitdeer Technologies Group during the fourth quarter valued at $308,000. Finally, Barclays PLC bought a new position in Bitdeer Technologies Group during the third quarter valued at about $161,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Trading Down 4.0 %

Bitdeer Technologies Group stock opened at $17.77 on Tuesday. The firm has a 50-day moving average of $19.34 and a 200-day moving average of $12.05. Bitdeer Technologies Group has a 1-year low of $5.23 and a 1-year high of $26.99. The firm has a market cap of $1.99 billion, a P/E ratio of -34.17 and a beta of 2.04.

Analyst Upgrades and Downgrades

Several research firms have commented on BTDR. Alliance Global Partners began coverage on Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price target for the company. Needham & Company LLC raised their price objective on Bitdeer Technologies Group from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. HC Wainwright lifted their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Benchmark boosted their price target on Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, B. Riley lifted their price objective on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $21.50.

About Bitdeer Technologies Group

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.