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

Bitdeer Technologies Group (NASDAQ:BTDR) was the recipient of some unusual options trading on Monday. Stock traders purchased 12,153 call options on the stock. This is an increase of approximately 143% compared to the typical daily volume of 5,007 call options.

Bitdeer Technologies Group Price Performance

BTDR stock traded up $0.79 during trading hours on Monday, reaching $11.88. The stock had a trading volume of 8,835,966 shares, compared to its average volume of 2,239,573. The stock has a 50-day simple moving average of $7.92 and a 200 day simple moving average of $7.98. 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 capitalization of $1.33 billion, a PE ratio of -60.58 and a beta of 1.92.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BTDR shares. Benchmark reaffirmed a “buy” rating and set a $16.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. Northland Capmk raised Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, October 9th. HC Wainwright lowered their price objective on shares of Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $9.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $13.70.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vident Advisory LLC lifted its holdings in Bitdeer Technologies Group by 186.4% during the 1st quarter. Vident Advisory LLC now owns 868,622 shares of the company’s stock valued at $6,098,000 after purchasing an additional 565,362 shares during the last quarter. Mirabella Financial Services LLP bought a new position in Bitdeer Technologies Group during the 3rd quarter worth $5,872,000. D1 Capital Partners L.P. bought a new position in Bitdeer Technologies Group during the 2nd quarter worth $5,386,000. Marshall Wace LLP acquired a new stake in Bitdeer Technologies Group in the 2nd quarter worth about $5,074,000. Finally, Point72 Asset Management L.P. bought a new stake in Bitdeer Technologies Group in the 2nd quarter valued at about $4,617,000. 22.25% of the stock is owned by institutional investors.

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.