Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Up 7.0% in January

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 13,320,000 shares, an increase of 7.0% from the December 31st total of 12,450,000 shares. Currently, 24.9% of the shares of the company are short sold. Based on an average daily trading volume, of 7,120,000 shares, the days-to-cover ratio is currently 1.9 days.

Bitdeer Technologies Group Stock Down 4.0 %

NASDAQ:BTDR traded down $0.75 during mid-day trading on Monday, reaching $17.77. 6,623,927 shares of the stock were exchanged, compared to its average volume of 7,777,882. Bitdeer Technologies Group has a 1 year low of $5.23 and a 1 year high of $26.99. The company has a 50 day simple moving average of $19.34 and a 200-day simple moving average of $12.05. The stock has a market capitalization of $1.99 billion, a P/E ratio of -34.17 and a beta of 2.04.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Stonebridge Financial Group LLC acquired a new stake in Bitdeer Technologies Group during the 4th quarter valued at $65,000. Public Employees Retirement System of Ohio acquired a new position in shares of Bitdeer Technologies Group during the third quarter worth $66,000. Centiva Capital LP acquired a new stake in Bitdeer Technologies Group during the 3rd quarter valued at approximately $91,000. Barclays PLC acquired a new position in Bitdeer Technologies Group in the third quarter worth about $161,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth about $169,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on BTDR. Alliance Global Partners assumed coverage on Bitdeer Technologies Group in a research note on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price objective for the company. Rosenblatt Securities restated a “buy” rating and set a $22.00 target price on shares of Bitdeer Technologies Group in a report on Monday, January 13th. B. Riley lifted their price objective on shares of Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Roth Mkm raised their price objective on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, Needham & Company LLC upped their price objective on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $21.50.

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.