Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Up 63.1% in February

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 45,421,811 shares, a growth of 63.1% from the February 12th total of 27,847,829 shares. Based on an average daily trading volume, of 14,401,642 shares, the days-to-cover ratio is currently 3.2 days. Currently, 21.5% of the shares of the company are sold short. Currently, 21.5% of the shares of the company are sold short. Based on an average daily trading volume, of 14,401,642 shares, the days-to-cover ratio is currently 3.2 days.

Bitdeer Technologies Group Price Performance

NASDAQ BTDR traded up $0.16 during trading on Friday, reaching $7.50. 5,264,371 shares of the company traded hands, compared to its average volume of 7,872,110. Bitdeer Technologies Group has a 1-year low of $6.84 and a 1-year high of $27.80. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -2.39 and a beta of 2.40. The stock’s 50 day moving average price is $11.15 and its two-hundred day moving average price is $14.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 0.91.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Thursday, February 12th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.59). Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The company had revenue of $224.84 million for the quarter, compared to the consensus estimate of $208.25 million. The business’s revenue was up 225.8% on a year-over-year basis. As a group, analysts anticipate that Bitdeer Technologies Group will post -0.73 EPS for the current year.

Hedge Funds Weigh In On Bitdeer Technologies Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fund Resources Investment Holding Group Co Ltd bought a new stake in Bitdeer Technologies Group during the 4th quarter worth approximately $102,732,000. Bank of America Corp DE raised its position in Bitdeer Technologies Group by 67.5% in the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after purchasing an additional 2,553,093 shares during the last quarter. Value Aligned Research Advisors LLC raised its position in Bitdeer Technologies Group by 137.0% in the 4th quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after purchasing an additional 1,888,825 shares during the last quarter. Azora Capital LP acquired a new position in Bitdeer Technologies Group in the third quarter worth $23,817,000. Finally, Geode Capital Management LLC grew its holdings in shares of Bitdeer Technologies Group by 197.7% during the second quarter. Geode Capital Management LLC now owns 1,592,504 shares of the company’s stock worth $18,280,000 after purchasing an additional 1,057,552 shares during the last quarter. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BTDR has been the topic of several recent analyst reports. BTIG Research reiterated a “buy” rating on shares of Bitdeer Technologies Group in a report on Friday, January 16th. Benchmark cut their price objective on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Rosenblatt Securities lowered their target price on Bitdeer Technologies Group from $30.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Wednesday, January 21st. Finally, Cantor Fitzgerald lowered their price objective on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $26.60.

About Bitdeer Technologies Group

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.