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

Bitdeer Technologies Group (NASDAQ:BTDR) was the recipient of unusually large options trading on Thursday. Stock investors bought 212,104 call options on the company. This is an increase of 318% compared to the typical volume of 50,802 call options.

Bitdeer Technologies Group Stock Performance

BTDR traded down $1.57 during midday trading on Thursday, reaching $13.87. The company had a trading volume of 8,343,086 shares, compared to its average volume of 8,566,323. Bitdeer Technologies Group has a 12-month low of $6.92 and a 12-month high of $27.80. The business has a 50-day moving average price of $15.42 and a two-hundred day moving average price of $12.34. The stock has a market cap of $3.27 billion, a PE ratio of -4.02 and a beta of 2.47. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.11 and a current ratio of 1.85.

Bitdeer Technologies Group (NASDAQ:BTDR) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The company had revenue of $188.93 million for the quarter, compared to analysts’ expectations of $184.02 million. During the same quarter in the previous year, the business earned ($0.37) EPS. The company’s revenue for the quarter was up 169.5% on a year-over-year basis. On average, sell-side analysts expect that Bitdeer Technologies Group will post -1.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in Bitdeer Technologies Group by 167.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 483,022 shares of the company’s stock worth $4,265,000 after acquiring an additional 302,548 shares during the last quarter. Legal & General Group Plc raised its stake in Bitdeer Technologies Group by 39.0% in the 2nd quarter. Legal & General Group Plc now owns 73,541 shares of the company’s stock valued at $844,000 after acquiring an additional 20,640 shares during the period. New York State Common Retirement Fund purchased a new stake in Bitdeer Technologies Group during the second quarter valued at about $326,000. Invesco Ltd. lifted its holdings in Bitdeer Technologies Group by 169.0% during the second quarter. Invesco Ltd. now owns 71,822 shares of the company’s stock valued at $825,000 after purchasing an additional 45,120 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Bitdeer Technologies Group during the second quarter worth about $1,558,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Needham & Company LLC upped their price target on Bitdeer Technologies Group from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Rosenblatt Securities increased their target price on shares of Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 15th. Cantor Fitzgerald boosted their price target on shares of Bitdeer Technologies Group from $11.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Citizens Jmp started coverage on shares of Bitdeer Technologies Group in a research note on Wednesday, June 24th. They issued a “market outperform” rating and a $35.00 price objective for the company. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Bitdeer Technologies Group in a research report on Wednesday, May 20th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.45.

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.