Traders Purchase High Volume of Call Options on Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of some unusual options trading on Thursday. Stock traders purchased 20,039 call options on the company. This represents an increase of approximately 95% compared to the typical volume of 10,257 call options.

Wall Street Analysts Forecast Growth

BTDR has been the topic of several recent analyst reports. Benchmark reissued a “buy” rating and set a $24.00 target price on shares of Bitdeer Technologies Group in a research report on Monday, May 12th. Rosenblatt Securities reissued a “buy” rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a research report on Monday, June 16th. Wall Street Zen raised shares of Bitdeer Technologies Group from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. B. Riley lifted their price target on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Finally, Needham & Company LLC lifted their price target on shares of Bitdeer Technologies Group from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $20.10.

Hedge Funds Weigh In On Bitdeer Technologies Group

Several institutional investors have recently bought and sold shares of BTDR. Trivest Advisors Ltd purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter worth about $48,481,000. Renaissance Technologies LLC lifted its holdings in Bitdeer Technologies Group by 3,558.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,240,261 shares of the company’s stock valued at $26,876,000 after buying an additional 1,206,361 shares in the last quarter. FengHe Fund Management Pte. Ltd. lifted its holdings in Bitdeer Technologies Group by 178.2% during the 1st quarter. FengHe Fund Management Pte. Ltd. now owns 1,332,200 shares of the company’s stock valued at $11,763,000 after buying an additional 853,300 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in Bitdeer Technologies Group during the 4th quarter valued at about $16,834,000. Finally, Capital Fund Management S.A. bought a new stake in Bitdeer Technologies Group during the 1st quarter valued at about $6,835,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

Bitdeer Technologies Group Stock Performance

BTDR opened at $13.77 on Friday. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -3.38 and a beta of 2.22. The company has a fifty day moving average of $12.83 and a 200 day moving average of $13.86. Bitdeer Technologies Group has a fifty-two week low of $5.40 and a fifty-two week high of $26.99.

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.