Stock Traders Purchase Large Volume of Call Options on Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of some unusual options trading activity on Thursday. Traders bought 8,562 call options on the stock. This represents an increase of approximately 34% compared to the typical volume of 6,405 call options.

Institutional Trading of Bitdeer Technologies Group

Several large investors have recently bought and sold shares of BTDR. Public Employees Retirement System of Ohio purchased a new stake in Bitdeer Technologies Group during the 3rd quarter worth approximately $66,000. Centiva Capital LP purchased a new stake in Bitdeer Technologies Group during the 3rd quarter worth approximately $91,000. Barclays PLC purchased a new stake in Bitdeer Technologies Group during the 3rd quarter worth approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Bitdeer Technologies Group during the 3rd quarter worth approximately $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at $220,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Up 23.7 %

Shares of Bitdeer Technologies Group stock opened at $21.01 on Friday. The firm’s 50 day moving average price is $9.62 and its 200-day moving average price is $8.66. Bitdeer Technologies Group has a 52-week low of $5.21 and a 52-week high of $22.01. The company has a market cap of $2.35 billion, a P/E ratio of -40.77 and a beta of 2.27.

Wall Street Analysts Forecast Growth

BTDR has been the subject of several recent research reports. Northland Securities boosted their price target on shares of Bitdeer Technologies Group from $14.00 to $20.00 and gave the company an “outperform” rating in a report on Friday. Benchmark restated a “buy” rating and issued a $16.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Northland Capmk upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, October 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Finally, Alliance Global Partners initiated coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price objective on the stock. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $15.90.

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.