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

Bitdeer Technologies Group (NASDAQ:BTDR) saw unusually large options trading activity on Monday. Stock traders purchased 12,153 call options on the company. This is an increase of approximately 143% compared to the average volume of 5,007 call options.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BTDR shares. Northland Capmk raised Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $9.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. Northland Securities assumed coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $13.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Thursday, September 26th. Finally, HC Wainwright reduced their price objective on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Ten 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.com, Bitdeer Technologies Group currently has an average rating of “Buy” and an average target price of $13.70.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BTDR. Public Employees Retirement System of Ohio bought a new position in shares of Bitdeer Technologies Group in the third quarter worth $66,000. Centiva Capital LP bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter valued at $91,000. Barclays PLC purchased a new stake in Bitdeer Technologies Group during the 3rd quarter worth about $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Bitdeer Technologies Group in the 3rd quarter worth about $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Bitdeer Technologies Group during the 3rd quarter valued at about $220,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Stock Up 6.9 %

Shares of NASDAQ:BTDR opened at $11.85 on Tuesday. The firm has a market capitalization of $1.33 billion, a PE ratio of -62.37 and a beta of 1.92. The company has a 50-day moving average price of $8.04 and a two-hundred day moving average price of $8.02. Bitdeer Technologies Group has a twelve month low of $3.91 and a twelve month high of $14.27.

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.