Bitdeer Technologies Group Sees Unusually Large Options Volume (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) saw some unusual options trading activity on Thursday. Investors bought 212,104 call options on the company. This represents an increase of 318% compared to the typical daily volume of 50,802 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Tudor Investment Corp ET AL bought a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth $6,792,000. Neo Ivy Capital Management bought a new stake in shares of Bitdeer Technologies Group during the 3rd quarter worth $3,427,000. Value Aligned Research Advisors LLC grew its position in Bitdeer Technologies Group by 65.6% in the third quarter. Value Aligned Research Advisors LLC now owns 1,378,789 shares of the company’s stock worth $23,564,000 after acquiring an additional 546,280 shares in the last quarter. Azora Capital LP bought a new position in Bitdeer Technologies Group in the third quarter valued at $23,817,000. Finally, SG Americas Securities LLC increased its stake in Bitdeer Technologies Group by 144.3% in the fourth quarter. SG Americas Securities LLC now owns 156,724 shares of the company’s stock valued at $1,757,000 after acquiring an additional 92,563 shares during the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Price Performance

Shares of Bitdeer Technologies Group stock traded down $1.57 during trading on Thursday, hitting $13.87. The stock had a trading volume of 8,343,086 shares, compared to its average volume of 8,566,323. The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88. Bitdeer Technologies Group has a 12 month low of $6.92 and a 12 month high of $27.80. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of -4.02 and a beta of 2.47. The business’s 50-day moving average is $15.42 and its 200 day moving average is $12.34.

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.21). The business had revenue of $188.93 million for the quarter, compared to the consensus estimate of $184.02 million. Bitdeer Technologies Group had a negative net margin of 68.11% and a negative return on equity of 69.95%. Bitdeer Technologies Group’s quarterly revenue was up 169.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.37) EPS. As a group, sell-side analysts anticipate that Bitdeer Technologies Group will post -1.18 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Wall Street Zen lowered Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Cantor Fitzgerald lifted their price target on Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Bitdeer Technologies Group in a research report on Wednesday, May 20th. Finally, Zacks Research raised Bitdeer Technologies Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.45.

Get Our Latest Stock Report on BTDR

Bitdeer Technologies Group Company Profile

(Get Free Report)

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.

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