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

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

Bitdeer Technologies Group Trading Down 4.4%

Shares of NASDAQ:BTDR traded down $0.52 on Friday, reaching $11.28. 5,396,899 shares of the company traded hands, compared to its average volume of 5,079,765. The business's 50-day simple moving average is $12.18 and its 200 day simple moving average is $14.43. Bitdeer Technologies Group has a 52 week low of $5.40 and a 52 week high of $26.99. The stock has a market capitalization of $1.26 billion, a P/E ratio of -2.76 and a beta of 2.32.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Bitdeer Technologies Group by 118.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,254 shares of the company's stock valued at $1,327,000 after buying an additional 33,182 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Bitdeer Technologies Group by 3,558.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company's stock valued at $26,876,000 after buying an additional 1,206,361 shares during the last quarter. Northern Trust Corp bought a new position in shares of Bitdeer Technologies Group during the fourth quarter valued at about $813,000. Bank of America Corp DE grew its stake in shares of Bitdeer Technologies Group by 286.8% during the fourth quarter. Bank of America Corp DE now owns 73,253 shares of the company's stock valued at $1,587,000 after buying an additional 54,314 shares during the last quarter. Finally, Yong Rong HK Asset Management Ltd bought a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth about $65,010,000. 22.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BTDR shares. Wall Street Zen upgraded Bitdeer Technologies Group from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. B. Riley raised their price target on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Needham & Company LLC raised their price target 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 research report on Monday, June 16th. Finally, HC Wainwright restated a "buy" rating and set a $21.00 price target (down previously from $22.00) on shares of Bitdeer Technologies Group in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Bitdeer Technologies Group has an average rating of "Buy" and a consensus target price of $20.10.

About Bitdeer Technologies Group

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.