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

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of some unusual options trading on Thursday. Traders purchased 36,545 call options on the company. This represents an increase of approximately 84% compared to the average daily volume of 19,817 call options.

Analysts Set New Price Targets

BTDR has been the topic of several analyst reports. BTIG Research reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, January 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research report on Wednesday, January 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $18.00 target price on shares of Bitdeer Technologies Group in a research report on Wednesday, March 18th. Zacks Research downgraded Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a report on Monday, March 16th. Finally, Needham & Company LLC lowered their price objective on 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. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Bitdeer Technologies Group has a consensus rating of “Moderate Buy” and an average price target of $26.60.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in shares of Bitdeer Technologies Group by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock valued at $30,000 after purchasing an additional 1,044 shares in the last quarter. Empowered Funds LLC bought a new position in Bitdeer Technologies Group in the 4th quarter valued at about $34,000. Kestra Advisory Services LLC acquired a new position in Bitdeer Technologies Group during the 4th quarter valued at about $39,000. Tower Research Capital LLC TRC increased its stake in Bitdeer Technologies Group by 7,157.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after buying an additional 7,157 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Bitdeer Technologies Group during the 2nd quarter worth about $105,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Stock Up 1.3%

Shares of Bitdeer Technologies Group stock traded up $0.11 during trading on Thursday, reaching $8.71. The company had a trading volume of 12,226,390 shares, compared to its average volume of 8,080,314. 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 has a fifty-two week low of $6.84 and a fifty-two week high of $27.80. The firm’s fifty day moving average is $10.46 and its 200-day moving average is $13.79. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -2.77 and a beta of 2.40.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.59). The firm had revenue of $224.84 million during the quarter, compared to analyst estimates of $208.25 million. Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The company’s revenue for the quarter was up 225.8% compared to the same quarter last year. On average, analysts anticipate that Bitdeer Technologies Group will post -0.73 EPS 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.