Bitdeer Technologies Group Target of Unusually High Options Trading (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR - Get Free Report) saw some unusual options trading activity on Monday. Traders purchased 12,480 put options on the company. This represents an increase of 24% compared to the typical volume of 10,070 put options.

Bitdeer Technologies Group Stock Performance

NASDAQ BTDR traded up $0.01 during mid-day trading on Thursday, reaching $16.26. 3,797,154 shares of the stock were exchanged, compared to its average volume of 7,360,250. The business's fifty day simple moving average is $19.64 and its 200 day simple moving average is $12.18. The stock has a market capitalization of $1.82 billion, a PE ratio of -31.27 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.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds have recently made changes to their positions in BTDR. Stonebridge Financial Group LLC purchased a new position in Bitdeer Technologies Group during the fourth quarter worth about $65,000. Public Employees Retirement System of Ohio purchased a new position in shares of Bitdeer Technologies Group in the 3rd quarter worth $66,000. SBI Securities Co. Ltd. acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at about $79,000. Centiva Capital LP acquired a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at $91,000. Finally, Barclays PLC acquired a new position in Bitdeer Technologies Group during the 3rd quarter worth approximately $161,000. Institutional investors and hedge funds own 22.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BTDR shares. HC Wainwright upped their price target on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods started coverage on Bitdeer Technologies Group in a research note on Monday, January 27th. They set an "outperform" rating and a $26.50 price target for the company. Roth Mkm boosted 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 report on Tuesday, December 17th. Benchmark raised their target price on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a "buy" rating in a report on Monday, December 9th. Finally, Northland Capmk raised shares of Bitdeer Technologies Group to a "strong-buy" rating in a report on Wednesday, October 9th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $22.23.

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.