Investors Buy Large Volume of Bitdeer Technologies Group Call Options (NASDAQ:BTDR)

Key Points

• Investors bought an unusually large volume of call options—231,611 calls, a 766% increase versus the average—which coincided with shares rising 18.1% to $14.74 on heavy volume.
• Several hedge funds established or increased positions (including Tudor, Keystone, Great Lakes, Neo Ivy and Y Intercept), and institutional investors now own 22.25% of Bitdeer’s stock.
• Analysts are mixed but the consensus is a Moderate Buy with an average target of $24.20; the company reported revenue up 225.8% year‑over‑year but missed EPS (‑$0.73) and is forecast to post about ‑0.83 EPS for the fiscal year.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) was the target of unusually large options trading on Wednesday. Investors bought 231,611 call options on the company. This is an increase of 766% compared to the average daily volume of 26,736 call options.

Institutional Trading of Bitdeer Technologies Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Great Lakes Advisors LLC bought a new position in shares of Bitdeer Technologies Group during the third quarter worth about $1,355,000. Tudor Investment Corp ET AL bought a new stake in Bitdeer Technologies Group in the 3rd quarter valued at approximately $6,792,000. Keystone Investors PTE Ltd. bought a new stake in Bitdeer Technologies Group in the 3rd quarter valued at approximately $7,844,000. Neo Ivy Capital Management acquired a new position in Bitdeer Technologies Group during the 3rd quarter worth approximately $3,427,000. Finally, Y Intercept Hong Kong Ltd boosted its position in Bitdeer Technologies Group by 2,332.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 272,313 shares of the company's stock worth $4,654,000 after acquiring an additional 261,118 shares during the last quarter. Institutional investors and hedge funds own 22.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BTDR shares. Benchmark cut their target price on Bitdeer Technologies Group from $38.00 to $27.00 and set a "buy" rating on the stock in a research note on Tuesday, February 10th. UBS Group restated a "buy" rating on shares of Bitdeer Technologies Group in a research report on Thursday, February 12th. HC Wainwright lowered their price target on Bitdeer Technologies Group from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $14.00 price objective (down from $26.50) on shares of Bitdeer Technologies Group in a research note on Tuesday, January 27th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Bitdeer Technologies Group in a report on Monday, April 20th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $24.20.

Bitdeer Technologies Group Stock Up 18.1%

Shares of NASDAQ BTDR traded up $2.26 during mid-day trading on Wednesday, reaching $14.74. 9,417,185 shares of the company's stock were exchanged, compared to its average volume of 7,550,089. Bitdeer Technologies Group has a twelve month low of $6.92 and a twelve month high of $27.80. 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 $3.12 billion, a price-to-earnings ratio of -4.70 and a beta of 2.32. The business has a fifty day simple moving average of $9.55 and a 200 day simple moving average of $12.47.

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 (EPS) 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 net margin of 10.58% and a return on equity of 8.92%. The company's revenue was up 225.8% on a year-over-year basis. As a group, equities analysts expect that Bitdeer Technologies Group will post -0.83 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.