Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Update

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 12,450,000 shares, a growth of 27.7% from the November 30th total of 9,750,000 shares. Approximately 36.7% of the company’s shares are sold short. Based on an average daily trading volume, of 6,160,000 shares, the short-interest ratio is presently 2.0 days.

Bitdeer Technologies Group Price Performance

Bitdeer Technologies Group stock opened at $22.29 on Tuesday. The company has a market cap of $2.50 billion, a price-to-earnings ratio of -42.86 and a beta of 2.27. Bitdeer Technologies Group has a 12 month low of $5.23 and a 12 month high of $26.24. The stock’s 50-day moving average is $14.03 and its 200-day moving average is $10.35.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. HC Wainwright raised their target price on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Alliance Global Partners started coverage on Bitdeer Technologies Group in a report on Tuesday, October 8th. They set a “buy” rating and a $14.00 price objective on the stock. Benchmark upped their target price on Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a research note on Thursday, October 3rd. Finally, Northland Securities lifted their price target on Bitdeer Technologies Group from $14.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $19.80.

Institutional Trading of Bitdeer Technologies Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Central Asset Investments & Management Holdings HK Ltd acquired a new position in Bitdeer Technologies Group during the second quarter valued at approximately $272,000. Thomist Capital Management LP acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter valued at $1,156,000. XTX Topco Ltd acquired a new position in shares of Bitdeer Technologies Group during the 2nd quarter valued at $276,000. Symmetry Investments LP purchased a new stake in Bitdeer Technologies Group during the 2nd quarter worth $432,000. Finally, D1 Capital Partners L.P. acquired a new stake in Bitdeer Technologies Group in the 2nd quarter valued at $5,386,000. Institutional investors and hedge funds 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.