Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Up 27.7% in December

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 12,450,000 shares, an increase of 27.7% from the November 30th total of 9,750,000 shares. Based on an average daily trading volume, of 6,160,000 shares, the short-interest ratio is currently 2.0 days. Approximately 36.7% of the shares of the company are sold short.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mirabella Financial Services LLP purchased a new position in Bitdeer Technologies Group during the third quarter worth $5,872,000. D1 Capital Partners L.P. acquired a new stake in shares of Bitdeer Technologies Group during the second quarter valued at $5,386,000. Marshall Wace LLP purchased a new stake in Bitdeer Technologies Group during the 2nd quarter worth about $5,074,000. Point72 Asset Management L.P. acquired a new position in Bitdeer Technologies Group in the 2nd quarter valued at about $4,617,000. Finally, Point72 Hong Kong Ltd acquired a new position in Bitdeer Technologies Group in the 2nd quarter valued at about $4,510,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Price Performance

Shares of NASDAQ BTDR opened at $23.65 on Friday. The firm’s 50-day moving average is $14.03 and its two-hundred day moving average is $10.34. The company has a market capitalization of $2.65 billion, a PE ratio of -45.48 and a beta of 2.27. Bitdeer Technologies Group has a 12-month low of $5.23 and a 12-month high of $26.24.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $14.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, November 19th. Benchmark boosted their target price on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. HC Wainwright upped their price target on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. B. Riley raised their price objective on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Bitdeer Technologies Group presently has an average rating of “Buy” and an average price target of $19.80.

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.