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

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of some unusual options trading activity on Wednesday. Traders purchased 40,445 call options on the stock. This represents an increase of approximately 106% compared to the average volume of 19,597 call options.

Hedge Funds Weigh In On Bitdeer Technologies Group

Large investors have recently bought and sold shares of the business. Great Lakes Advisors LLC acquired a new stake in shares of Bitdeer Technologies Group during the third quarter worth $1,355,000. Geode Capital Management LLC raised its position in Bitdeer Technologies Group by 197.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock worth $18,280,000 after buying an additional 1,057,552 shares during the last quarter. Harvest Portfolios Group Inc. lifted its stake in shares of Bitdeer Technologies Group by 76.3% in the 2nd quarter. Harvest Portfolios Group Inc. now owns 64,469 shares of the company’s stock worth $740,000 after acquiring an additional 27,891 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of Bitdeer Technologies Group in the 2nd quarter worth $3,255,000. Finally, Intech Investment Management LLC acquired a new position in shares of Bitdeer Technologies Group during the second quarter worth about $501,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Wall Street Analyst Weigh In

BTDR has been the topic of several research analyst reports. Needham & Company LLC lowered their price target on Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, February 13th. UBS Group reiterated a “buy” rating on shares of Bitdeer Technologies Group in a research note on Thursday, February 12th. Rosenblatt Securities cut their target price on shares of Bitdeer Technologies Group from $30.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $14.00 target price (down from $26.50) on shares of Bitdeer Technologies Group in a report on Tuesday, January 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research report on Wednesday, January 21st. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.60.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock traded up $0.33 during trading hours on Wednesday, reaching $7.89. 10,334,001 shares of the company’s stock were exchanged, compared to its average volume of 7,962,904. The business has a fifty day moving average of $11.64 and a two-hundred day moving average of $14.39. The company has a market capitalization of $1.67 billion, a P/E ratio of -2.54 and a beta of 2.40. The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 0.28. Bitdeer Technologies Group has a 1 year low of $6.84 and a 1 year high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its earnings results 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). Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The business had revenue of $224.84 million for the quarter, compared to analysts’ expectations of $208.25 million. The firm’s quarterly revenue was up 225.8% on a year-over-year basis. As a group, research analysts predict that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Bitdeer Technologies Group Company Profile

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.