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

Bitdeer Technologies Group (NASDAQ:BTDR) saw unusually large options trading activity on Thursday. Stock traders purchased 73,922 call options on the stock. This is an increase of 115% compared to the average daily volume of 34,307 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Zacks Research cut shares of Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a research note on Monday, March 16th. Weiss Ratings upgraded shares of Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Wall Street Zen cut shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. B. Riley Financial upped their price objective on Bitdeer Technologies Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, May 20th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Bitdeer Technologies Group presently has a consensus rating of “Moderate Buy” and an average target price of $24.50.

Bitdeer Technologies Group Stock Performance

NASDAQ BTDR opened at $18.38 on Friday. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of -5.33 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. The business has a 50-day moving average price of $11.71 and a 200-day moving average price of $11.42. Bitdeer Technologies Group has a twelve month low of $6.92 and a twelve month high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.21). The business had revenue of $188.93 million during the quarter, compared to the consensus estimate 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 business’s revenue was up 169.5% on a year-over-year basis. During the same period last year, the company earned ($0.37) EPS. As a group, equities research analysts predict that Bitdeer Technologies Group will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds have recently made changes to their positions in the company. Great Lakes Advisors LLC purchased a new stake in shares of Bitdeer Technologies Group in the third quarter worth about $1,355,000. Tudor Investment Corp ET AL purchased a new stake in shares of Bitdeer Technologies Group in the third quarter worth about $6,792,000. Keystone Investors PTE Ltd. purchased a new stake in shares of Bitdeer Technologies Group in the third quarter worth about $7,844,000. Neo Ivy Capital Management purchased a new stake in shares of Bitdeer Technologies Group in the third quarter worth about $3,427,000. Finally, Value Aligned Research Advisors LLC lifted its position in shares of Bitdeer Technologies Group by 65.6% in the third quarter. Value Aligned Research Advisors LLC now owns 1,378,789 shares of the company’s stock worth $23,564,000 after buying an additional 546,280 shares in the last quarter. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.