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

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of some unusual options trading activity on Thursday. Investors acquired 116,024 call options on the stock. This is an increase of approximately 444% compared to the typical volume of 21,346 call options.

Bitdeer Technologies Group Stock Performance

Shares of BTDR opened at $12.59 on Friday. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -2.24 and a beta of 2.33. The business’s fifty day simple moving average is $12.34 and its two-hundred day simple moving average is $14.86. Bitdeer Technologies Group has a 12 month low of $6.84 and a 12 month high of $27.80. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Monday, November 10th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($1.06). The company had revenue of $169.71 million for the quarter, compared to the consensus estimate of $151.80 million. Bitdeer Technologies Group had a negative net margin of 115.59% and a negative return on equity of 91.31%. Bitdeer Technologies Group’s revenue was up 173.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) EPS. Research analysts anticipate that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB bought a new position in shares of Bitdeer Technologies Group in the fourth quarter worth approximately $262,000. ProShare Advisors LLC raised its position in shares of Bitdeer Technologies Group by 17.4% during the 4th quarter. ProShare Advisors LLC now owns 18,023 shares of the company’s stock valued at $202,000 after purchasing an additional 2,670 shares during the period. Phoenix Financial Ltd. purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at $227,000. Fund Resources Investment Holding Group Co Ltd bought a new position in Bitdeer Technologies Group in the 4th quarter worth $102,732,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Bitdeer Technologies Group by 47.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,427 shares of the company’s stock worth $317,000 after buying an additional 8,801 shares in the last quarter. Institutional investors own 22.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Roth Mkm restated a “buy” rating and issued a $40.00 price objective on shares of Bitdeer Technologies Group in a report on Wednesday, October 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research report on Wednesday, January 21st. Benchmark restated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Monday, October 20th. B. Riley Financial lowered their price objective on Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Finally, Needham & Company LLC boosted their target price on Bitdeer Technologies Group from $17.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.39.

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.