Investors Purchase High Volume of Bitdeer Technologies Group Call Options (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) saw unusually large options trading activity on Wednesday. Stock investors purchased 28,759 call options on the stock. This represents an increase of 189% compared to the typical volume of 9,941 call options.

Institutional Trading of Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC increased its stake 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 worth $35,000 after purchasing an additional 1,000 shares in the last quarter. Quarry LP bought a new position in shares of Bitdeer Technologies Group in the fourth quarter worth about $42,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Bitdeer Technologies Group during the 1st quarter valued at about $55,000. SBI Securities Co. Ltd. purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter valued at about $79,000. Finally, Wells Fargo & Company MN increased its holdings in Bitdeer Technologies Group by 56.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock worth $93,000 after acquiring an additional 1,540 shares in the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BTDR. B. Riley boosted their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Rosenblatt Securities restated a "buy" rating and issued a $20.00 price target on shares of Bitdeer Technologies Group in a research note on Monday. Wall Street Zen upgraded Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Needham & Company LLC boosted their target price on Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, Roth Mkm reissued a "buy" rating and set a $23.50 price objective (down from $29.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given 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 price target of $20.10.

Bitdeer Technologies Group Price Performance

Shares of BTDR traded down $0.82 during trading hours on Wednesday, hitting $11.89. The stock had a trading volume of 7,306,028 shares, compared to its average volume of 5,601,316. Bitdeer Technologies Group has a 12 month low of $5.40 and a 12 month high of $26.99. The stock has a fifty day moving average price of $11.97 and a 200 day moving average price of $14.48. The firm has a market capitalization of $1.33 billion, a PE ratio of -2.92 and a beta of 2.32.

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.

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