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

Bitdeer Technologies Group (NASDAQ:BTDR) saw some unusual options trading on Thursday. Stock investors acquired 8,562 call options on the company. This is an increase of approximately 34% compared to the typical daily volume of 6,405 call options.

Analyst Upgrades and Downgrades

BTDR has been the topic of several research analyst reports. Northland Securities boosted their target price on Bitdeer Technologies Group from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Benchmark reissued a “buy” rating and issued a $16.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday, November 19th. Roth Mkm raised their price objective on Bitdeer Technologies Group from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Finally, Alliance Global Partners initiated coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They set a “buy” rating and a $14.00 target price for the company. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $14.80.

Institutional Trading of Bitdeer Technologies Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in Bitdeer Technologies Group in the 3rd quarter valued at about $66,000. Centiva Capital LP purchased a new stake in Bitdeer Technologies Group during the 3rd quarter worth approximately $91,000. Barclays PLC purchased a new position in Bitdeer Technologies Group in the 3rd quarter valued at approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Bitdeer Technologies Group during the 3rd quarter worth $169,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in Bitdeer Technologies Group by 96.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock worth $347,000 after purchasing an additional 21,798 shares during the period. 22.25% of the stock is owned by institutional investors and hedge funds.

Bitdeer Technologies Group Stock Performance

BTDR stock opened at $16.98 on Friday. Bitdeer Technologies Group has a one year low of $5.21 and a one year high of $19.49. The firm has a market cap of $1.90 billion, a PE ratio of -32.65 and a beta of 2.27. The firm’s 50 day moving average price is $9.62 and its 200-day moving average price is $8.66.

Bitdeer Technologies Group Company Profile

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.