Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Update

Bitdeer Technologies Group (NASDAQ:BTDR) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 14,680,000 shares, a growth of 6.8% from the January 15th total of 13,740,000 shares. Based on an average daily volume of 8,370,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 17.0% of the company’s stock are sold short.

Bitdeer Technologies Group Price Performance

Bitdeer Technologies Group stock traded down $0.08 during trading hours on Monday, hitting $16.50. The company had a trading volume of 2,958,087 shares, compared to its average volume of 6,500,237. The firm’s fifty day moving average is $19.77 and its 200-day moving average is $12.52. Bitdeer Technologies Group has a fifty-two week low of $5.23 and a fifty-two week high of $26.99. The firm has a market capitalization of $1.85 billion, a P/E ratio of -31.73 and a beta of 2.04.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Northland Securities upped their target price on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, January 10th. HC Wainwright raised their price objective 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. B. Riley raised their target price on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Rosenblatt Securities raised their price objective on shares of Bitdeer Technologies Group from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Finally, Benchmark lifted their target price on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $22.23.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several large investors have recently bought and sold shares of the stock. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at about $2,895,000. Point72 Asset Management L.P. acquired a new position in Bitdeer Technologies Group in the 4th quarter valued at approximately $1,274,000. Point72 Hong Kong Ltd bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $10,689,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Bitdeer Technologies Group by 3.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,358 shares of the company’s stock worth $636,000 after acquiring an additional 916 shares during the period. Finally, GeoSphere Capital Management LLC bought a new stake in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $3,576,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.