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

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

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC bought a new stake in Bitdeer Technologies Group during the third quarter worth approximately $49,000. Vontobel Holding Ltd. bought a new stake in Bitdeer Technologies Group during the fourth quarter worth approximately $240,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Bitdeer Technologies Group by 149.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock worth $384,000 after purchasing an additional 23,310 shares in the last quarter. Virtu Financial LLC bought a new stake in Bitdeer Technologies Group during the first quarter worth approximately $431,000. Finally, Swiss National Bank bought a new position in shares of Bitdeer Technologies Group in the third quarter valued at $604,000. Institutional investors own 22.25% of the company’s stock.

Analyst Ratings Changes

BTDR has been the subject of a number of research reports. Rosenblatt Securities initiated coverage on Bitdeer Technologies Group in a research note on Tuesday, April 9th. They issued a “buy” rating and a $10.50 target price for the company. Roth Mkm initiated coverage on Bitdeer Technologies Group in a research note on Thursday, February 29th. They issued a “buy” rating and a $14.00 target price for the company. BTIG Research initiated coverage on Bitdeer Technologies Group in a report on Wednesday, March 13th. They set a “buy” rating and a $15.00 price target on the stock. Cantor Fitzgerald raised Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, June 12th. Finally, Benchmark reaffirmed a “buy” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a report on Monday, April 15th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $13.56.

Bitdeer Technologies Group Stock Down 7.8 %

BTDR opened at $9.25 on Thursday. Bitdeer Technologies Group has a twelve month low of $2.77 and a twelve month high of $14.65. The business’s 50 day moving average is $6.77 and its 200-day moving average is $7.24.

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

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.