Bitdeer Technologies Group Target of Unusually Large Options Trading (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR) was the recipient of some unusual options trading activity on Thursday. Traders acquired 212,104 call options on the company. This is an increase of 318% compared to the average daily volume of 50,802 call options.

Institutional Trading of Bitdeer Technologies Group

Large investors have recently made changes to their positions in the business. Tudor Investment Corp ET AL acquired a new position in Bitdeer Technologies Group during the third quarter valued at $6,792,000. Neo Ivy Capital Management acquired a new stake in Bitdeer Technologies Group during the 3rd quarter worth about $3,427,000. Value Aligned Research Advisors LLC grew its position in Bitdeer Technologies Group by 65.6% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 1,378,789 shares of the company’s stock worth $23,564,000 after purchasing an additional 546,280 shares during the period. Azora Capital LP acquired a new stake in Bitdeer Technologies Group during the 3rd quarter worth about $23,817,000. Finally, SG Americas Securities LLC raised its stake in shares of Bitdeer Technologies Group by 144.3% during the 4th quarter. SG Americas Securities LLC now owns 156,724 shares of the company’s stock valued at $1,757,000 after buying an additional 92,563 shares during the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BTDR shares. Zacks Research raised shares of Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Weiss Ratings raised shares of Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Needham & Company LLC lifted their price objective on shares of Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Wall Street Zen downgraded shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Finally, B. Riley Financial upped their target price on shares of Bitdeer Technologies Group from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.45.

Bitdeer Technologies Group Stock Performance

NASDAQ:BTDR remained flat at $13.85 during midday trading on Friday. The company had a trading volume of 14,487,242 shares, compared to its average volume of 10,327,770. The firm has a 50-day moving average price of $15.45 and a two-hundred day moving average price of $12.36. Bitdeer Technologies Group has a one year low of $6.92 and a one year high of $27.80. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -4.01 and a beta of 2.47. 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 posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) EPS 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 firm had revenue of $188.93 million for the quarter, compared to analysts’ expectations of $184.02 million. During the same period in the previous year, the firm earned ($0.37) earnings per share. The firm’s quarterly revenue was up 169.5% compared to the same quarter last year. On average, research analysts expect that Bitdeer Technologies Group will post -1.18 EPS 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.