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

Bitdeer Technologies Group (NASDAQ:BTDR) saw some unusual options trading activity on Thursday. Investors bought 116,024 call options on the company. This represents an increase of 444% compared to the typical daily volume of 21,346 call options.

Bitdeer Technologies Group Trading Down 5.2%

Shares of NASDAQ BTDR traded down $0.64 during midday trading on Thursday, reaching $11.84. The company had a trading volume of 2,926,739 shares, compared to its average volume of 5,823,001. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.46. Bitdeer Technologies Group has a one year low of $6.84 and a one year high of $27.80. The stock has a market cap of $2.51 billion, a PE ratio of -2.10 and a beta of 2.33. The firm’s fifty day moving average price is $12.39 and its 200-day moving average price is $14.90.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its quarterly earnings results on Monday, November 10th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.06). Bitdeer Technologies Group had a negative net margin of 115.59% and a negative return on equity of 91.31%. The business had revenue of $169.71 million for the quarter, compared to analysts’ expectations of $151.80 million. During the same quarter in the prior year, the firm earned ($0.35) EPS. The firm’s revenue for the quarter was up 173.7% on a year-over-year basis. On average, equities research analysts anticipate that Bitdeer Technologies Group will post -0.73 earnings per share for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in shares of Bitdeer Technologies Group by 197.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock worth $18,280,000 after acquiring an additional 1,057,552 shares in the last quarter. Harvest Portfolios Group Inc. increased its stake in shares of Bitdeer Technologies Group by 76.3% during the second quarter. Harvest Portfolios Group Inc. now owns 64,469 shares of the company’s stock valued at $740,000 after purchasing an additional 27,891 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Bitdeer Technologies Group during the third quarter valued at approximately $1,355,000. Highbridge Capital Management LLC bought a new stake in shares of Bitdeer Technologies Group in the 2nd quarter worth approximately $3,255,000. Finally, Intech Investment Management LLC bought a new stake in shares of Bitdeer Technologies Group in the 2nd quarter worth approximately $501,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BTDR. Cantor Fitzgerald decreased their price target on Bitdeer Technologies Group to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $14.00 target price (down previously from $26.50) on shares of Bitdeer Technologies Group in a report on Tuesday, January 27th. Needham & Company LLC increased their target price on shares of Bitdeer Technologies Group from $17.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Benchmark restated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Monday, October 20th. Finally, B. Riley decreased their price target on shares of Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.39.

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.