Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Update

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) saw a significant increase in short interest in 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. Based on an average daily trading volume, of 8,370,000 shares, the days-to-cover ratio is presently 1.8 days. Approximately 17.0% of the company's shares are short sold.

Bitdeer Technologies Group Stock Performance

Shares of Bitdeer Technologies Group stock traded down $1.85 on Friday, hitting $13.09. The company had a trading volume of 8,397,061 shares, compared to its average volume of 6,804,821. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -25.16 and a beta of 2.04. Bitdeer Technologies Group has a 1 year low of $5.23 and a 1 year high of $26.99. The stock has a 50 day moving average of $19.22 and a 200-day moving average of $12.70.

Analyst Ratings Changes

Several research firms recently issued reports on BTDR. Needham & Company LLC boosted their target price on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the company a "buy" rating in a report on Monday, January 13th. Keefe, Bruyette & Woods began coverage on Bitdeer Technologies Group in a research note on Monday, January 27th. They issued an "outperform" rating and a $26.50 price objective on the stock. Roth Mkm raised their target price on Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a "buy" rating in a research note on Tuesday, December 17th. HC Wainwright boosted their price target on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. Finally, Northland Securities raised their price objective on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $22.23.

Institutional Trading of Bitdeer Technologies Group

Several institutional investors and hedge funds have recently made changes to their positions in BTDR. Quarry LP purchased a new stake in Bitdeer Technologies Group in the 4th quarter valued at about $42,000. Stonebridge Financial Group LLC purchased a new position in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $65,000. SBI Securities Co. Ltd. purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $79,000. Wells Fargo & Company MN increased its position in shares of Bitdeer Technologies Group by 56.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,270 shares of the company's stock valued at $93,000 after acquiring an additional 1,540 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $116,000. Hedge funds and other institutional investors own 22.25% of the company's stock.

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.