Bitdeer Technologies Group (NASDAQ:BTDR) Sees Large Growth in Short Interest

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 45,421,811 shares, an increase of 63.1% from the February 12th total of 27,847,829 shares. Based on an average daily trading volume, of 14,401,642 shares, the days-to-cover ratio is currently 3.2 days. Approximately 21.5% of the shares of the stock are short sold. Approximately 21.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 14,401,642 shares, the days-to-cover ratio is currently 3.2 days.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. raised its stake in shares of Bitdeer Technologies Group by 3.7% during the fourth quarter. Invesco Ltd. now owns 71,930 shares of the company’s stock valued at $806,000 after acquiring an additional 2,597 shares during the last quarter. Vident Advisory LLC grew its stake in shares of Bitdeer Technologies Group by 39.3% in the fourth quarter. Vident Advisory LLC now owns 1,186,662 shares of the company’s stock worth $13,302,000 after purchasing an additional 334,548 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Bitdeer Technologies Group in the fourth quarter worth $34,000. Vennlight Capital Management LP acquired a new stake in Bitdeer Technologies Group in the fourth quarter valued at $1,030,000. Finally, Engineers Gate Manager LP acquired a new stake in Bitdeer Technologies Group in the fourth quarter valued at $604,000. 22.25% of the stock is owned by institutional investors.

Bitdeer Technologies Group Price Performance

Bitdeer Technologies Group stock opened at $7.50 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $1.59 billion, a PE ratio of -2.39 and a beta of 2.40. Bitdeer Technologies Group has a 12 month low of $6.84 and a 12 month high of $27.80. The stock has a 50-day moving average price of $11.07 and a two-hundred day moving average price of $14.07.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.59). Bitdeer Technologies Group had a return on equity of 8.92% and a net margin of 10.58%.The firm had revenue of $224.84 million for the quarter, compared to the consensus estimate of $208.25 million. The business’s quarterly revenue was up 225.8% compared to the same quarter last year. Analysts expect that Bitdeer Technologies Group will post -0.73 EPS for the current year.

Analyst Upgrades and Downgrades

BTDR has been the topic of a number of recent analyst reports. BTIG Research reiterated a “buy” rating on shares of Bitdeer Technologies Group in a research report on Friday, January 16th. Cantor Fitzgerald dropped their target price on shares of Bitdeer Technologies Group to $34.00 and set an “overweight” rating for the company in a report on Tuesday, December 16th. Rosenblatt Securities reduced their price target on shares of Bitdeer Technologies Group from $30.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. HC Wainwright decreased their price target on shares of Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $14.00 price objective (down from $26.50) on shares of Bitdeer Technologies Group in a research note on Tuesday, January 27th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.60.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group Inc (NASDAQ:BTDR) is a global digital asset mining and computing services provider focused on delivering secure and efficient hashrate solutions to institutional and retail customers. The company leverages its proprietary mining platform to offer hosted mining, hashrate sales and management services, enabling clients to access large-scale mining operations without direct investment in hardware or infrastructure.

Bitdeer’s core offerings include mining hosting services, whereby the firm installs, operates and maintains specialized mining equipment on behalf of customers, and hashrate-as-a-service products that provide fixed-capacity mining power with transparent pricing structures.