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

Bitdeer Technologies Group (NASDAQ:BTDR) was the recipient of unusually large options trading activity on Thursday. Investors purchased 20,039 call options on the company. This represents an increase of 95% compared to the typical daily volume of 10,257 call options.

Bitdeer Technologies Group Stock Up 5.3%

NASDAQ:BTDR opened at $13.77 on Friday. The company has a fifty day moving average of $12.77 and a 200-day moving average of $13.91. The firm has a market capitalization of $1.54 billion, a P/E ratio of -3.38 and a beta of 2.22. Bitdeer Technologies Group has a twelve month low of $5.40 and a twelve month high of $26.99.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BTDR shares. B. Riley increased their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Wall Street Zen raised shares of Bitdeer Technologies Group from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 target price on shares of Bitdeer Technologies Group in a report on Monday, June 16th. Benchmark reissued a “buy” rating and issued a $24.00 target price on shares of Bitdeer Technologies Group in a report on Monday, May 12th. Finally, Needham & Company LLC raised their price objective on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a “buy” rating in a report on Friday, May 16th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bitdeer Technologies Group has an average rating of “Buy” and an average price target of $20.10.

Institutional Trading of Bitdeer Technologies Group

Several hedge funds have recently modified their holdings of BTDR. Stonebridge Financial Group LLC increased its stake in shares of Bitdeer Technologies Group by 33.3% in the 1st quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company’s stock valued at $35,000 after acquiring an additional 1,000 shares in the last quarter. Quarry LP bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter valued at $42,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Bitdeer Technologies Group in the 1st quarter valued at $55,000. SBI Securities Co. Ltd. acquired a new position in Bitdeer Technologies Group during the fourth quarter worth $79,000. Finally, Wells Fargo & Company MN raised its holdings in Bitdeer Technologies Group by 56.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company’s stock worth $93,000 after buying an additional 1,540 shares during the last quarter. Institutional investors own 22.25% of the company’s stock.

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.