Traders Buy High Volume of Bitdeer Technologies Group Call Options (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of unusually large options trading on Thursday. Stock traders bought 116,024 call options on the stock. This is an increase of 444% compared to the typical daily volume of 21,346 call options.

Analyst Ratings Changes

BTDR has been the subject of several analyst reports. Benchmark restated a “buy” rating on shares of Bitdeer Technologies Group in a report on Monday, October 20th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $14.00 price objective (down from $26.50) on shares of Bitdeer Technologies Group in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitdeer Technologies Group in a research note on Wednesday, January 21st. B. Riley cut their price target on shares of Bitdeer Technologies Group from $32.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Finally, HC Wainwright decreased their price objective on shares of Bitdeer Technologies Group from $32.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bitdeer Technologies Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.39.

Bitdeer Technologies Group Stock Performance

BTDR stock traded down $0.64 on Thursday, hitting $11.84. The company had a trading volume of 2,926,739 shares, compared to its average volume of 5,823,001. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Bitdeer Technologies Group has a 12-month low of $6.84 and a 12-month high of $27.80. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -2.10 and a beta of 2.33. The stock’s 50-day simple moving average is $12.39 and its 200 day simple moving average is $14.90.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Monday, November 10th. The company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($1.06). The firm had revenue of $169.71 million for the quarter, compared to the consensus estimate of $151.80 million. Bitdeer Technologies Group had a negative net margin of 115.59% and a negative return on equity of 91.31%. Bitdeer Technologies Group’s quarterly revenue was up 173.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.35) earnings per share. As a group, equities research analysts expect that Bitdeer Technologies Group will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bitdeer Technologies Group

Large investors have recently made changes to their positions in the company. Phoenix Financial Ltd. bought a new position in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $227,000. Fund Resources Investment Holding Group Co Ltd purchased a new stake in Bitdeer Technologies Group during the fourth quarter valued at approximately $102,732,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Bitdeer Technologies Group by 47.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,427 shares of the company’s stock worth $317,000 after acquiring an additional 8,801 shares during the period. Pictet Asset Management Holding SA raised its position in Bitdeer Technologies Group by 107.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 55,752 shares of the company’s stock worth $625,000 after acquiring an additional 28,904 shares during the period. Finally, UBS Group AG boosted its stake in shares of Bitdeer Technologies Group by 2.4% during the 4th quarter. UBS Group AG now owns 2,246,381 shares of the company’s stock worth $25,182,000 after acquiring an additional 52,808 shares during the last quarter. 22.25% of the stock is currently owned by institutional investors.

Bitdeer Technologies Group Company Profile

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.