Bitdeer Technologies Group (NASDAQ:BTDR) Sees Large Growth in Short Interest

Bitdeer Technologies Group (NASDAQ:BTDR) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 14,680,000 shares, an increase of 6.8% from the January 15th total of 13,740,000 shares. Currently, 17.0% of the shares of the company are short sold. Based on an average daily trading volume, of 8,370,000 shares, the short-interest ratio is currently 1.8 days.

Institutional Investors Weigh In On Bitdeer Technologies Group

Large investors have recently bought and sold shares of the business. Quarry LP purchased a new stake in shares of Bitdeer Technologies Group during the 4th quarter valued at about $42,000. Stonebridge Financial Group LLC bought a new position in Bitdeer Technologies Group during the fourth quarter valued at $65,000. SBI Securities Co. Ltd. purchased a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at $79,000. Wells Fargo & Company MN lifted its holdings in shares of 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 during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter worth about $116,000. Institutional investors own 22.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BTDR. HC Wainwright raised their price objective on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Northland Securities boosted their price target on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, January 10th. B. Riley increased their target price on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods initiated coverage on shares of Bitdeer Technologies Group in a research report on Monday, January 27th. They issued an “outperform” rating and a $26.50 price target for the company. Finally, Roth Mkm raised their price objective on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $22.23.

Bitdeer Technologies Group Stock Down 0.5 %

NASDAQ BTDR traded down $0.08 on Monday, reaching $16.50. The company had a trading volume of 2,958,087 shares, compared to its average volume of 6,500,237. The firm’s 50 day moving average price is $19.77 and its 200 day moving average price is $12.52. Bitdeer Technologies Group has a 12 month low of $5.23 and a 12 month high of $26.99. The stock has a market capitalization of $1.85 billion, a PE ratio of -31.73 and a beta of 2.04.

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.