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

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Traders purchased 20,039 call options on the company. This is an increase of 95% compared to the average volume of 10,257 call options.

Bitdeer Technologies Group Stock Up 6.0%

Shares of NASDAQ:BTDR traded up $0.78 during trading on Thursday, reaching $13.86. 3,875,367 shares of the company's stock traded hands, compared to its average volume of 5,170,185. The company has a 50-day simple moving average of $12.70 and a 200-day simple moving average of $13.98. The firm has a market cap of $1.55 billion, a PE ratio of -3.43 and a beta of 2.22. Bitdeer Technologies Group has a fifty-two week low of $5.40 and a fifty-two week high of $26.99.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BTDR. Wall Street Zen raised Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Needham & Company LLC lifted their price objective on Bitdeer Technologies Group from $13.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Rosenblatt Securities restated a "buy" rating and set a $20.00 price target on shares of Bitdeer Technologies Group in a report on Monday, June 16th. B. Riley upped their price objective on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Finally, Benchmark reissued a "buy" rating and set a $24.00 price target on shares of Bitdeer Technologies Group in a report on Monday, May 12th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $20.10.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BTDR. Stonebridge Financial Group LLC raised its holdings in shares of Bitdeer Technologies Group by 33.3% in the 1st quarter. Stonebridge Financial Group LLC now owns 4,000 shares of the company's stock valued at $35,000 after purchasing an additional 1,000 shares in the last quarter. Quarry LP purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $42,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Bitdeer Technologies Group during the 1st quarter worth about $55,000. SBI Securities Co. Ltd. acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at $79,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Bitdeer Technologies Group by 56.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock worth $93,000 after purchasing an additional 1,540 shares during the last quarter. Hedge funds and other institutional investors own 22.25% of the company's stock.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group operates as a technology company for blockchain and computing. It offers hash rate sharing solutions, including Cloud hash rate and Hash rate marketplace; and a one-stop mining machine hosting solutions encompassing deployment, maintenance, and management services for efficient cryptocurrency mining; as well as mines cryptocurrencies for its own account.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.