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

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of some unusual options trading on Friday. Stock investors purchased 121,567 call options on the company. This represents an increase of 169% compared to the average volume of 45,110 call options.

Wall Street Analysts Forecast Growth

BTDR has been the topic of several recent analyst reports. UBS Group reiterated a “buy” rating on shares of Bitdeer Technologies Group in a report on Thursday, February 12th. Rosenblatt Securities increased their price target on Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Zacks Research upgraded Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. HC Wainwright reduced their price target on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Weiss Ratings upgraded Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC bought a new position in Bitdeer Technologies Group in the fourth quarter worth approximately $34,000. Kestra Advisory Services LLC bought a new position in Bitdeer Technologies Group in the fourth quarter worth approximately $39,000. Hollencrest Capital Management bought a new position in Bitdeer Technologies Group in the first quarter worth approximately $43,000. Leonteq Securities AG bought a new position in Bitdeer Technologies Group in the first quarter worth approximately $72,000. Finally, Royal Bank of Canada grew its stake in Bitdeer Technologies Group by 80.2% in the first 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. Institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Trading Up 9.6%

Shares of NASDAQ BTDR opened at $17.65 on Friday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85. The business’s 50 day moving average price is $13.65 and its 200-day moving average price is $11.85. Bitdeer Technologies Group has a fifty-two week low of $6.92 and a fifty-two week high of $27.80. The company has a market cap of $4.16 billion, a price-to-earnings ratio of -5.12 and a beta of 2.45.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The business had revenue of $188.93 million during the quarter, compared to analysts’ expectations of $184.02 million. During the same quarter in the previous year, the company posted ($0.37) earnings per share. The company’s quarterly revenue was up 169.5% compared to the same quarter last year. On average, sell-side analysts expect that Bitdeer Technologies Group will post -1.18 earnings per share for the current year.

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.