Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Update

Bitdeer Technologies Group (NASDAQ:BTDR) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 10,710,000 shares, a growth of 8.6% from the October 15th total of 9,860,000 shares. Based on an average trading volume of 2,820,000 shares, the short-interest ratio is currently 3.8 days. Approximately 31.6% of the shares of the company are short sold.

Bitdeer Technologies Group Stock Performance

Bitdeer Technologies Group stock opened at $11.85 on Tuesday. Bitdeer Technologies Group has a fifty-two week low of $3.91 and a fifty-two week high of $14.27. The stock has a market cap of $1.33 billion, a P/E ratio of -62.37 and a beta of 1.92. The firm’s fifty day moving average price is $8.04 and its 200-day moving average price is $8.02.

Analyst Ratings Changes

BTDR has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $9.00 price target on shares of Bitdeer Technologies Group in a research report on Tuesday, October 8th. Benchmark restated a “buy” rating and issued a $16.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. Northland Securities initiated coverage on shares of Bitdeer Technologies Group in a report on Wednesday, October 9th. They set an “outperform” rating and a $13.00 target price on the stock. Finally, HC Wainwright cut their price target on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $13.70.

Institutional Investors Weigh In On Bitdeer Technologies Group

Large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $66,000. Centiva Capital LP bought a new position in Bitdeer Technologies Group during the third quarter valued at approximately $91,000. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group during the third quarter worth approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter worth approximately $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at $220,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.