Short Interest in Bitdeer Technologies Group (NASDAQ:BTDR) Grows By 15.0%

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 52,424,315 shares, a growth of 15.0% from the March 31st total of 45,591,179 shares. Approximately 24.8% of the company’s stock are sold short. Based on an average daily trading volume, of 6,580,526 shares, the short-interest ratio is presently 8.0 days.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ BTDR opened at $11.84 on Friday. The firm has a 50 day moving average of $9.46 and a 200 day moving average of $12.67. The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -3.77 and a beta of 2.32. Bitdeer Technologies Group has a 12-month low of $6.92 and a 12-month high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR) last announced its earnings results on Thursday, February 12th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.59). The business had revenue of $224.84 million for the quarter, compared to the consensus estimate of $208.25 million. Bitdeer Technologies Group had a net margin of 10.58% and a return on equity of 8.92%. The business’s revenue for the quarter was up 225.8% compared to the same quarter last year. On average, research analysts anticipate that Bitdeer Technologies Group will post -0.83 earnings per share for the current year.

Institutional Trading of Bitdeer Technologies Group

Several large investors have recently added to or reduced their stakes in the business. Fund Resources Investment Holding Group Co Ltd grew its position in Bitdeer Technologies Group by 3.0% during the first quarter. Fund Resources Investment Holding Group Co Ltd now owns 9,440,418 shares of the company’s stock valued at $81,660,000 after buying an additional 276,098 shares during the period. Bank of America Corp DE grew its position in Bitdeer Technologies Group by 67.5% during the second quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock valued at $72,753,000 after buying an additional 2,553,093 shares during the period. Value Aligned Research Advisors LLC grew its position in Bitdeer Technologies Group by 137.0% during the fourth quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after buying an additional 1,888,825 shares during the period. State Street Corp boosted its position in shares of Bitdeer Technologies Group by 34.1% in the fourth quarter. State Street Corp now owns 3,144,782 shares of the company’s stock worth $35,253,000 after purchasing an additional 800,003 shares during the period. Finally, UBS Group AG increased its stake in shares of Bitdeer Technologies Group by 2.4% in the fourth quarter. UBS Group AG now owns 2,246,381 shares of the company’s stock worth $25,182,000 after purchasing an additional 52,808 shares in the last quarter. 22.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on BTDR shares. Cantor Fitzgerald cut shares of Bitdeer Technologies Group from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $20.00 to $10.00 in a report on Thursday, April 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bitdeer Technologies Group in a report on Monday, April 20th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $14.00 target price (down from $26.50) on shares of Bitdeer Technologies Group in a report on Tuesday, January 27th. HC Wainwright decreased their price objective on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $18.00 price objective on shares of Bitdeer Technologies Group in a report on Wednesday, March 18th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.20.

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.