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

Bitdeer Technologies Group (NASDAQ:BTDR) saw some unusual options trading on Wednesday. Stock traders acquired 41,722 call options on the stock. This is an increase of approximately 216% compared to the typical daily volume of 13,198 call options.

Analyst Ratings Changes

Several research firms have weighed in on BTDR. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a research note on Monday, September 15th. Roth Capital lifted their target price on Bitdeer Technologies Group from $18.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 target price on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 target price on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. Finally, B. Riley reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $22.55.

Bitdeer Technologies Group Trading Down 2.2%

Shares of NASDAQ BTDR opened at $17.61 on Friday. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of -3.75 and a beta of 2.25. The business has a 50 day simple moving average of $14.39 and a 200 day simple moving average of $12.62. Bitdeer Technologies Group has a 52 week low of $6.61 and a 52 week high of $26.99. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 1.03.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in BTDR. Bank of America Corp DE lifted its holdings in Bitdeer Technologies Group by 286.8% in the 4th quarter. Bank of America Corp DE now owns 73,253 shares of the company’s stock worth $1,587,000 after purchasing an additional 54,314 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Bitdeer Technologies Group by 118.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,254 shares of the company’s stock worth $1,327,000 after purchasing an additional 33,182 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Bitdeer Technologies Group by 14.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 9,600 shares of the company’s stock worth $208,000 after purchasing an additional 1,200 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Bitdeer Technologies Group in the 4th quarter worth approximately $566,000. Finally, SG Americas Securities LLC acquired a new stake in Bitdeer Technologies Group in the 1st quarter worth approximately $505,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

About Bitdeer Technologies Group

Bitdeer Technologies Group operates as a technology company for blockchain and computing. It offers hash rate sharing solutions, including Cloud hash rate and Hash rate marketplace; and a one-stop mining machine hosting solutions encompassing deployment, maintenance, and management services for efficient cryptocurrency mining; as well as mines cryptocurrencies for its own account.