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

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of unusually large options trading activity on Wednesday. Investors bought 231,611 call options on the company. This is an increase of approximately 766% compared to the typical daily volume of 26,736 call options.

Bitdeer Technologies Group Stock Up 18.1%

Shares of Bitdeer Technologies Group stock traded up $2.26 during trading hours on Wednesday, reaching $14.74. 9,417,185 shares of the company’s stock were exchanged, compared to its average volume of 7,550,089. The company has a 50 day moving average of $9.55 and a two-hundred day moving average of $12.47. Bitdeer Technologies Group has a fifty-two week low of $6.92 and a fifty-two week high of $27.80. The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 0.28. The stock has a market cap of $3.12 billion, a P/E ratio of -4.70 and a beta of 2.32.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.59). The business had revenue of $224.84 million for the quarter, compared to analyst estimates of $208.25 million. Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The business’s revenue for the quarter was up 225.8% on a year-over-year basis. On average, sell-side analysts forecast that Bitdeer Technologies Group will post -0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at about $34,000. Kestra Advisory Services LLC bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at about $39,000. Tower Research Capital LLC TRC raised its holdings in shares of Bitdeer Technologies Group by 7,157.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after purchasing an additional 7,157 shares during the period. Leonteq Securities AG bought a new stake in shares of Bitdeer Technologies Group in the 1st quarter valued at about $72,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $159,000. 22.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. HC Wainwright decreased their target price on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Cantor Fitzgerald cut shares of Bitdeer Technologies Group from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $10.00 in a research report on Thursday, April 9th. UBS Group restated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Thursday, February 12th. Zacks Research downgraded shares of Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a research note on Monday, March 16th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $14.00 price objective (down from $26.50) on shares of Bitdeer Technologies Group in a research note on Tuesday, January 27th. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.20.

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.