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

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of some unusual options trading on Thursday. Investors acquired 73,922 call options on the stock. This is an increase of approximately 115% compared to the average daily volume of 34,307 call options.

Analyst Ratings Changes

Several brokerages have recently commented on BTDR. B. Riley Financial upped their target price on Bitdeer Technologies Group from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 15th. Zacks Research downgraded Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a report on Monday, March 16th. Wall Street Zen downgraded Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Benchmark reduced their target price on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Bitdeer Technologies Group in a report on Wednesday, May 20th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

Bitdeer Technologies Group Trading Up 8.0%

Shares of NASDAQ BTDR traded up $1.25 during mid-day trading on Thursday, hitting $16.79. 6,567,676 shares of the company traded hands, compared to its average volume of 7,815,824. The business has a 50 day moving average of $11.53 and a two-hundred day moving average of $11.45. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of -4.88 and a beta of 2.32. The company has a quick ratio of 1.11, a current ratio of 1.85 and a debt-to-equity ratio of 1.88. Bitdeer Technologies Group has a 1 year low of $6.92 and a 1 year high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.21). The business had revenue of $188.93 million during the quarter, compared to analysts’ expectations of $184.02 million. Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The firm’s revenue was up 169.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.37) earnings per share. On average, sell-side analysts anticipate that Bitdeer Technologies Group will post -1.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds have recently bought and sold shares of BTDR. Empowered Funds LLC purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth $34,000. Kestra Advisory Services LLC purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth about $39,000. Hollencrest Capital Management purchased a new stake in shares of Bitdeer Technologies Group during the 1st quarter worth about $43,000. Leonteq Securities AG purchased a new stake in shares of Bitdeer Technologies Group during the 1st quarter worth about $72,000. Finally, Royal Bank of Canada raised its stake in shares of Bitdeer Technologies Group by 80.2% during the 1st quarter. Royal Bank of Canada now owns 9,548 shares of the company’s stock worth $83,000 after purchasing an additional 4,250 shares in the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Company Profile

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.