Bitdeer Technologies Group Target of Unusually High Options Trading (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR) saw unusually large options trading on Thursday. Traders acquired 73,922 call options on the company. This is an increase of 115% compared to the typical volume of 34,307 call options.

Bitdeer Technologies Group Stock Performance

NASDAQ BTDR traded up $1.25 during trading on Thursday, hitting $16.79. The company’s stock had a trading volume of 6,567,676 shares, compared to its average volume of 7,815,824. The company has a quick ratio of 1.11, a current ratio of 1.85 and a debt-to-equity ratio of 1.88. The firm has a 50 day moving average price of $11.53 and a 200 day moving average price of $11.45. The firm has a market cap of $3.95 billion, a P/E ratio of -4.88 and a beta of 2.32. Bitdeer Technologies Group has a 52 week low of $6.92 and a 52 week high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.21). The business had revenue of $188.93 million during the quarter, compared to the consensus estimate of $184.02 million. Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The business’s quarterly revenue was up 169.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.37) earnings per share. Equities research analysts forecast that Bitdeer Technologies Group will post -1.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC bought a new position in Bitdeer Technologies Group in the 4th quarter worth approximately $34,000. Kestra Advisory Services LLC bought a new position in Bitdeer Technologies Group in the 4th quarter worth approximately $39,000. Hollencrest Capital Management bought a new position in Bitdeer Technologies Group in the 1st quarter worth approximately $43,000. Leonteq Securities AG bought a new position in Bitdeer Technologies Group in the 1st quarter worth approximately $72,000. Finally, Royal Bank of Canada increased its position in Bitdeer Technologies Group by 80.2% in the 1st quarter. Royal Bank of Canada now owns 9,548 shares of the company’s stock worth $83,000 after buying an additional 4,250 shares during the period. 22.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on BTDR. Needham & Company LLC raised their price target on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Cantor Fitzgerald raised their price objective on Bitdeer Technologies Group from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Wall Street Zen downgraded Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Zacks Research downgraded Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a research note on Monday, March 16th. Finally, Rosenblatt Securities raised their price objective on Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Bitdeer Technologies Group has an average rating of “Moderate Buy” and an average price target of $24.50.

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.