Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Down 21.4% in April

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totalling 1,760,000 shares, a decrease of 21.4% from the March 31st total of 2,240,000 shares. Approximately 6.0% of the company's shares are sold short. Based on an average daily trading volume, of 1,700,000 shares, the short-interest ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

BTDR has been the subject of a number of recent analyst reports. BTIG Research assumed coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, March 13th. They issued a "buy" rating and a $15.00 price objective for the company. B. Riley assumed coverage on Bitdeer Technologies Group in a report on Tuesday, March 12th. They set a "buy" rating and a $9.00 target price for the company. HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, March 26th. Benchmark reiterated a "buy" rating and set a $13.00 target price on shares of Bitdeer Technologies Group in a report on Monday, April 15th. Finally, Needham & Company LLC assumed coverage on Bitdeer Technologies Group in a report on Monday, April 15th. They set a "buy" rating and a $14.00 target price for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Bitdeer Technologies Group presently has a consensus rating of "Buy" and an average target price of $13.64.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC bought a new position in Bitdeer Technologies Group during the third quarter worth about $49,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Bitdeer Technologies Group during the third quarter worth approximately $150,000. Vontobel Holding Ltd. bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth approximately $240,000. Swiss National Bank bought a new stake in shares of Bitdeer Technologies Group during the third quarter worth approximately $604,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter worth approximately $1,199,000. Institutional investors own 22.25% of the company's stock.

Bitdeer Technologies Group Trading Down 1.7 %

Shares of NASDAQ BTDR traded down $0.11 during mid-day trading on Friday, hitting $6.35. The company had a trading volume of 524,103 shares, compared to its average volume of 815,036. The company has a market capitalization of $711.01 million, a PE ratio of -15.12 and a beta of 1.70. The firm has a 50-day simple moving average of $6.82 and a two-hundred day simple moving average of $6.45. Bitdeer Technologies Group has a one year low of $2.77 and a one year high of $14.65.

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) last announced its quarterly earnings data on Thursday, March 28th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.15). The company had revenue of $114.85 million during the quarter. Bitdeer Technologies Group had a negative net margin of 15.37% and a negative return on equity of 7.34%. Sell-side analysts expect that Bitdeer Technologies Group will post -0.07 earnings per share for the current fiscal year.

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.

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