Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Up 6.9% in May

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) was the target of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 1,860,000 shares, an increase of 6.9% from the May 15th total of 1,740,000 shares. Currently, 13.8% of the shares of the stock are sold short. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is currently 1.8 days.

Wall Street Analyst Weigh In

BTDR has been the subject of several recent analyst reports. Benchmark reiterated a “buy” rating and issued a $13.00 price objective on shares of Bitdeer Technologies Group in a research note on Monday, April 15th. Rosenblatt Securities started coverage on Bitdeer Technologies Group in a research note on Tuesday, April 9th. They set a “buy” rating and a $10.50 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, June 11th. Roth Mkm assumed coverage on Bitdeer Technologies Group in a research report on Thursday, February 29th. They set a “buy” rating and a $14.00 target price on the stock. Finally, BTIG Research initiated coverage on Bitdeer Technologies Group in a research report on Wednesday, March 13th. They issued a “buy” rating and a $15.00 price target for the company. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Bitdeer Technologies Group currently has a consensus rating of “Buy” and an average price target of $13.56.

Read Our Latest Analysis on BTDR

Bitdeer Technologies Group Stock Down 3.2 %

Shares of BTDR traded down $0.30 during trading hours on Tuesday, reaching $9.08. 1,612,243 shares of the company traded hands, compared to its average volume of 1,480,625. The stock has a market capitalization of $1.02 billion, a PE ratio of -22.54 and a beta of 1.79. The stock has a fifty day simple moving average of $6.38 and a 200 day simple moving average of $7.08. Bitdeer Technologies Group has a fifty-two week low of $2.77 and a fifty-two week high of $14.65.

Bitdeer Technologies Group (NASDAQ:BTDRGet Free Report) last issued its quarterly earnings results on Monday, May 13th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). The firm had revenue of $119.51 million for the quarter, compared to analysts’ expectations of $119.12 million. Bitdeer Technologies Group had a negative return on equity of 3.98% and a negative net margin of 11.21%. Research analysts predict that Bitdeer Technologies Group will post -0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Barclays PLC acquired a new position in Bitdeer Technologies Group in the third quarter valued at $49,000. Swiss National Bank acquired a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at about $604,000. Exchange Traded Concepts LLC lifted its holdings in shares of Bitdeer Technologies Group by 83.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock worth $5,265,000 after acquiring an additional 243,245 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Bitdeer Technologies Group by 149.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock worth $384,000 after acquiring an additional 23,310 shares during the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in Bitdeer Technologies Group in the fourth quarter valued at approximately $240,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

(Get Free Report)

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.

Further Reading

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