Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up Following Insider Buying Activity

Bitdeer Technologies Group (NASDAQ:BTDR)’s share price gapped up prior to trading on Monday after an insider bought additional shares in the company. The stock had previously closed at $9.13, but opened at $9.58. Bitdeer Technologies Group shares last traded at $9.4320, with a volume of 2,650,720 shares traded.

Specifically, insider Haris Fozan Basit acquired 25,000 shares of the stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $8.84 per share, for a total transaction of $221,000.00. Following the purchase, the insider directly owned 35,000 shares in the company, valued at approximately $309,400. The trade was a 250.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael G. Potter acquired 25,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was bought at an average cost of $9.04 per share, with a total value of $226,000.00. Following the completion of the acquisition, the chief financial officer directly owned 25,000 shares in the company, valued at approximately $226,000. This represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wall Street Zen lowered Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bitdeer Technologies Group in a research note on Thursday. Benchmark reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research report on Tuesday, August 11th. Keefe, Bruyette & Woods reduced their price objective on shares of Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating on the stock in a research note on Thursday. Finally, Citizens Jmp started coverage on shares of Bitdeer Technologies Group in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.82.

Bitdeer Technologies Group Stock Up 3.0%

The firm has a 50 day simple moving average of $13.53 and a two-hundred day simple moving average of $12.16. The stock has a market capitalization of $2.14 billion, a P/E ratio of -3.07 and a beta of 2.50. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings results on Tuesday, June 30th. The company reported ($0.37) earnings per share (EPS) for the quarter. Bitdeer Technologies Group had a negative net margin of 55.15% and a negative return on equity of 54.72%. The business had revenue of $228.78 million during the quarter. On average, equities research analysts expect that Bitdeer Technologies Group will post -1.54 earnings per share for the current year.

Institutional Trading of Bitdeer Technologies Group

Several large investors have recently bought and sold shares of the business. Handelsbanken Fonder AB grew its position in Bitdeer Technologies Group by 59.4% in the second quarter. Handelsbanken Fonder AB now owns 37,300 shares of the company’s stock valued at $592,000 after acquiring an additional 13,900 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Bitdeer Technologies Group in the second quarter worth about $66,000. GAMMA Investing LLC lifted its holdings in shares of Bitdeer Technologies Group by 57.3% in the second quarter. GAMMA Investing LLC now owns 2,476 shares of the company’s stock worth $39,000 after acquiring an additional 902 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Bitdeer Technologies Group by 1,366.7% in the 1st quarter. Bank of America Corp DE now owns 3,227,585 shares of the company’s stock valued at $27,919,000 after purchasing an additional 3,007,523 shares in the last quarter. Finally, Situational Awareness LP boosted its stake in shares of Bitdeer Technologies Group by 92.4% in the 1st quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock valued at $29,751,000 after purchasing an additional 1,651,450 shares in the last quarter. 22.25% of the stock is owned by institutional investors and hedge funds.

About Bitdeer Technologies Group

Bitdeer Technologies Group Inc (NASDAQ:BTDR) is a global digital asset mining and computing services provider focused on delivering secure and efficient hashrate solutions to institutional and retail customers. The company leverages its proprietary mining platform to offer hosted mining, hashrate sales and management services, enabling clients to access large-scale mining operations without direct investment in hardware or infrastructure.

Bitdeer’s core offerings include mining hosting services, whereby the firm installs, operates and maintains specialized mining equipment on behalf of customers, and hashrate-as-a-service products that provide fixed-capacity mining power with transparent pricing structures.