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 Friday. Stock investors acquired 121,567 call options on the stock. This represents an increase of 169% compared to the average volume of 45,110 call options.

Analyst Ratings Changes

Several brokerages have weighed in on BTDR. Cantor Fitzgerald raised their price objective on Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Zacks Research upgraded Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Weiss Ratings upgraded Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Needham & Company LLC raised their price objective on Bitdeer Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, B. Riley Financial raised their price objective on Bitdeer Technologies Group from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several large investors have recently made changes to their positions in BTDR. Empowered Funds LLC purchased a new stake in Bitdeer Technologies Group in the 4th quarter worth about $34,000. Kestra Advisory Services LLC purchased a new stake in Bitdeer Technologies Group in the 4th quarter worth about $39,000. Hollencrest Capital Management purchased a new stake in Bitdeer Technologies Group in the 1st quarter worth about $43,000. Leonteq Securities AG purchased a new stake in Bitdeer Technologies Group in the 1st quarter worth about $72,000. Finally, Royal Bank of Canada increased its holdings in Bitdeer Technologies Group by 80.2% in the 1st quarter. Royal Bank of Canada now owns 9,548 shares of the company’s stock worth $83,000 after acquiring an additional 4,250 shares during the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Trading Up 1.0%

Shares of Bitdeer Technologies Group stock opened at $17.83 on Friday. Bitdeer Technologies Group has a 1 year low of $6.92 and a 1 year high of $27.80. The firm has a market cap of $4.20 billion, a PE ratio of -5.17 and a beta of 2.45. The stock has a fifty day moving average price of $13.82 and a 200-day moving average price of $11.90. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.85 and a quick ratio of 1.11.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative net margin of 68.11% and a negative return on equity of 69.95%. The business had revenue of $188.93 million for the quarter, compared to analysts’ expectations of $184.02 million. During the same period in the prior year, the business earned ($0.37) earnings per share. The company’s revenue for the quarter was up 169.5% compared to the same quarter last year. Equities research analysts anticipate that Bitdeer Technologies Group will post -1.18 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.