Bitdeer Technologies Group (NASDAQ:BTDR) Sees Large Growth in Short Interest

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

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Leonteq Securities AG bought a new stake in shares of Bitdeer Technologies Group in the first quarter valued at approximately $72,000. Fund Resources Investment Holding Group Co Ltd increased its stake in Bitdeer Technologies Group by 3.0% during the 1st quarter. Fund Resources Investment Holding Group Co Ltd now owns 9,440,418 shares of the company's stock worth $81,660,000 after acquiring an additional 276,098 shares during the period. Invesco Ltd. raised its holdings in Bitdeer Technologies Group by 3.7% in the 4th quarter. Invesco Ltd. now owns 71,930 shares of the company's stock valued at $806,000 after acquiring an additional 2,597 shares in the last quarter. Vident Advisory LLC raised its holdings in Bitdeer Technologies Group by 39.3% in the 4th quarter. Vident Advisory LLC now owns 1,186,662 shares of the company's stock valued at $13,302,000 after acquiring an additional 334,548 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at $34,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Trading Up 4.2%

BTDR stock opened at $11.29 on Friday. Bitdeer Technologies Group has a 52 week low of $6.92 and a 52 week high of $27.80. The company has a market capitalization of $2.39 billion, a PE ratio of -3.60 and a beta of 2.28. The company's 50-day simple moving average is $9.46 and its 200 day simple moving average is $12.67. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.59). The business had revenue of $224.84 million during the quarter, compared to analyst estimates of $208.25 million. Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The company's revenue for the quarter was up 225.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Bitdeer Technologies Group will post -0.83 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. UBS Group reiterated a "buy" rating on shares of Bitdeer Technologies Group in a research note on Thursday, February 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Bitdeer Technologies Group in a report on Monday, April 20th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $18.00 target price on shares of Bitdeer Technologies Group in a research report on Wednesday, March 18th. HC Wainwright decreased their target price on Bitdeer Technologies Group from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, February 12th. Finally, BTIG Research reiterated a "buy" rating on shares of Bitdeer Technologies Group in a research note on Friday, January 16th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Bitdeer Technologies Group 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.

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