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

Bitdeer Technologies Group (NASDAQ:BTDR) saw unusually large options trading on Thursday. Traders acquired 36,545 call options on the company. This is an increase of approximately 84% compared to the typical volume of 19,817 call options.

Bitdeer Technologies Group Stock Down 3.9%

Shares of NASDAQ BTDR opened at $8.37 on Friday. The stock has a market capitalization of $1.77 billion, a P/E ratio of -2.67 and a beta of 2.40. The stock’s fifty day moving average is $10.18 and its 200 day moving average is $13.73. Bitdeer Technologies Group has a 52 week low of $6.84 and a 52 week high of $27.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 0.91.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on BTDR shares. BTIG Research restated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, January 16th. Needham & Company LLC dropped their price objective on shares of Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Cantor Fitzgerald cut their price objective on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a report on Tuesday, December 16th. Rosenblatt Securities reaffirmed a “buy” rating and set a $18.00 target price on shares of Bitdeer Technologies Group in a report on Wednesday, March 18th. Finally, UBS Group reiterated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Thursday, February 12th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Bitdeer Technologies Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.60.

Institutional Trading of Bitdeer Technologies Group

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in Bitdeer Technologies Group by 167.6% during the first quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock valued at $4,265,000 after purchasing an additional 302,548 shares in the last quarter. Geode Capital Management LLC lifted its stake in Bitdeer Technologies Group by 197.7% during the second quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock worth $18,280,000 after purchasing an additional 1,057,552 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Bitdeer Technologies Group by 108.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 39,724 shares of the company’s stock valued at $456,000 after purchasing an additional 20,666 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Bitdeer Technologies Group in the 2nd quarter valued at $501,000. Finally, Entropy Technologies LP bought a new position in shares of Bitdeer Technologies Group in the 2nd quarter valued at $131,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.