Bitdeer Technologies Group Sees Unusually High Options Volume (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of some unusual options trading activity on Monday. Stock investors acquired 12,153 call options on the company. This is an increase of approximately 143% compared to the typical volume of 5,007 call options.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of Bitdeer Technologies Group by 14.6% in the third quarter. Geode Capital Management LLC now owns 368,564 shares of the company’s stock worth $2,886,000 after acquiring an additional 46,968 shares in the last quarter. Barclays PLC acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $161,000. Public Employees Retirement System of Ohio bought a new stake in Bitdeer Technologies Group during the 3rd quarter worth approximately $66,000. Y Intercept Hong Kong Ltd raised its holdings in Bitdeer Technologies Group by 96.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock worth $347,000 after buying an additional 21,798 shares during the period. Finally, State Street Corp bought a new position in Bitdeer Technologies Group in the third quarter valued at approximately $1,510,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BTDR. HC Wainwright reduced their price objective on Bitdeer Technologies Group from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research note on Thursday, September 26th. Benchmark reiterated a “buy” rating and issued a $16.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, August 13th. Northland Securities started coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, October 9th. They set an “outperform” rating and a $13.00 target price on the stock. Finally, B. Riley lowered their price target on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $13.70.

Bitdeer Technologies Group Trading Up 7.1 %

Shares of BTDR stock traded up $0.79 on Monday, hitting $11.88. The stock had a trading volume of 8,835,966 shares, compared to its average volume of 2,239,573. Bitdeer Technologies Group has a twelve month low of $3.91 and a twelve month high of $14.27. The company has a fifty day moving average price of $7.92 and a two-hundred day moving average price of $7.98. The firm has a market cap of $1.33 billion, a P/E ratio of -60.58 and a beta of 1.92.

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.