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

Bitdeer Technologies Group (NASDAQ:BTDR) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 36,545 call options on the stock. This is an increase of approximately 84% compared to the typical daily volume of 19,817 call options.

Bitdeer Technologies Group Stock Performance

NASDAQ BTDR traded up $0.11 during trading hours on Thursday, hitting $8.71. 12,226,390 shares of the stock were exchanged, compared to its average volume of 8,080,314. The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average of $10.46 and a 200 day moving average of $13.79. Bitdeer Technologies Group has a 12-month low of $6.84 and a 12-month high of $27.80. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -2.77 and a beta of 2.40.

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

Institutional Trading of Bitdeer Technologies Group

A number of hedge funds have recently bought and sold shares of BTDR. Advisors Asset Management Inc. increased its position in Bitdeer Technologies Group by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,570 shares of the company’s stock worth $30,000 after purchasing an additional 1,044 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth $34,000. Kestra Advisory Services LLC acquired a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth $39,000. Tower Research Capital LLC TRC raised its stake in shares of Bitdeer Technologies Group by 7,157.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,257 shares of the company’s stock valued at $83,000 after acquiring an additional 7,157 shares during the period. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Bitdeer Technologies Group in the 2nd quarter valued at $105,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

Analysts Set New Price Targets

BTDR has been the topic of several analyst reports. UBS Group reissued a “buy” rating on shares of Bitdeer Technologies Group in a report on Thursday, February 12th. BTIG Research reaffirmed a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, January 16th. Benchmark cut their target price on Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Rosenblatt Securities restated a “buy” rating and set a $18.00 target price on shares of Bitdeer Technologies Group in a research note on Wednesday, March 18th. Finally, HC Wainwright lowered their price target on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.60.

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.