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

Bitdeer Technologies Group (NASDAQ:BTDR) was the recipient of unusually large options trading on Thursday. Stock traders acquired 9,331 call options on the company. This represents an increase of approximately 659% compared to the typical volume of 1,230 call options.

Bitdeer Technologies Group Stock Down 19.0 %

NASDAQ BTDR traded down $1.47 on Thursday, reaching $6.26. 12,268,747 shares of the stock traded hands, compared to its average volume of 1,859,185. Bitdeer Technologies Group has a 12 month low of $2.77 and a 12 month high of $14.65. The company has a market cap of $700.91 million, a price-to-earnings ratio of -17.24 and a beta of 1.96. The firm’s fifty day simple moving average is $9.55 and its 200 day simple moving average is $7.71.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its earnings results on Monday, May 13th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.07). The firm had revenue of $119.51 million for the quarter, compared to the consensus estimate of $119.12 million. Bitdeer Technologies Group had a negative net margin of 11.21% and a negative return on equity of 3.98%. As a group, equities research analysts forecast that Bitdeer Technologies Group will post 0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Bitdeer Technologies Group by 149.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock worth $384,000 after purchasing an additional 23,310 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in Bitdeer Technologies Group in the fourth quarter worth approximately $240,000. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Bitdeer Technologies Group in the fourth quarter worth approximately $1,199,000. Van ECK Associates Corp lifted its position in shares of Bitdeer Technologies Group by 196.2% during the 4th quarter. Van ECK Associates Corp now owns 1,100,178 shares of the company’s stock valued at $10,848,000 after acquiring an additional 728,804 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter worth $15,350,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Cantor Fitzgerald upgraded Bitdeer Technologies Group to a “strong-buy” rating in a report on Wednesday, June 12th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a research report on Tuesday. HC Wainwright lowered their price target on Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday. Rosenblatt Securities reiterated a “buy” rating and set a $9.00 price objective on shares of Bitdeer Technologies Group in a research note on Wednesday. Finally, Benchmark reissued a “buy” rating and issued a $16.00 price target on shares of Bitdeer Technologies Group in a report on Tuesday. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $14.00.

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.