Bitdeer Technologies Group Sees Unusually Large Options Volume (NASDAQ:BTDR)

Key Points

• Options activity surged: Traders purchased 103,378 BTDR call options, 86% above the average daily volume of 55,557 contracts.
• Shares fell sharply: Bitdeer stock dropped 10.3% to $9.22 on unusually high volume, while the company continues to report losses despite quarterly revenue growth of 169.5% year over year.
• Analyst sentiment remains moderately bullish: Ten analysts rate the stock Buy and four rate it Hold, resulting in a consensus “Moderate Buy” rating and an average price target of $25.45, well above the current price.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) saw unusually large options trading on Wednesday. Traders acquired 103,378 call options on the company. This is an increase of 86% compared to the average daily volume of 55,557 call options.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BTDR. Zacks Research upgraded Bitdeer Technologies Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Rosenblatt Securities increased their price objective on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. 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 report on Friday, May 15th. Citizens Jmp assumed coverage on Bitdeer Technologies Group in a research note on Wednesday, June 24th. They issued a "market outperform" rating and a $35.00 target price on the stock. Finally, Wall Street Zen cut Bitdeer Technologies Group from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 2nd. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.45.

Bitdeer Technologies Group Stock Down 10.3%

Shares of NASDAQ:BTDR traded down $1.06 on Wednesday, reaching $9.22. The company had a trading volume of 15,852,566 shares, compared to its average volume of 8,586,964. 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 stock has a 50-day moving average price of $15.29 and a 200 day moving average price of $12.52. The stock has a market capitalization of $2.17 billion, a P/E ratio of -2.67 and a beta of 2.47. Bitdeer Technologies Group has a twelve month low of $6.92 and a twelve month high of $27.80.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) EPS for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.21). The firm 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%.Bitdeer Technologies Group's revenue was up 169.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.37) EPS. On average, equities analysts expect that Bitdeer Technologies Group will post -1.18 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB increased its stake in shares of Bitdeer Technologies Group by 59.4% during the second quarter. Handelsbanken Fonder AB now owns 37,300 shares of the company's stock worth $592,000 after purchasing an additional 13,900 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Bitdeer Technologies Group during the 2nd quarter valued at approximately $66,000. GAMMA Investing LLC lifted its stake in shares of Bitdeer Technologies Group by 57.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,476 shares of the company's stock valued at $39,000 after acquiring an additional 902 shares during the last quarter. Bank of America Corp DE raised its holdings in Bitdeer Technologies Group by 1,366.7% in the 1st quarter. Bank of America Corp DE now owns 3,227,585 shares of the company's stock valued at $27,919,000 after buying an additional 3,007,523 shares during the last quarter. Finally, Situational Awareness LP grew its position in shares of Bitdeer Technologies Group by 92.4% in the 1st quarter. Situational Awareness LP now owns 3,439,450 shares of the company's stock valued at $29,751,000 after buying an additional 1,651,450 shares during the last quarter. 22.25% of the stock is currently owned by institutional investors.

About Bitdeer Technologies Group

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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