Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Update

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 12,560,000 shares, an increase of 17.3% from the October 31st total of 10,710,000 shares. Approximately 37.0% of the shares of the stock are short sold. Based on an average trading volume of 3,460,000 shares, the days-to-cover ratio is currently 3.6 days.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BTDR. Rosenblatt Securities boosted their price objective on Bitdeer Technologies Group from $9.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. B. Riley cut their target price on shares of Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Alliance Global Partners assumed coverage on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price target on the stock. Finally, Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bitdeer Technologies Group currently has a consensus rating of “Buy” and a consensus target price of $14.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC grew its holdings in shares of Bitdeer Technologies Group by 901.0% during the 2nd quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock worth $4,210,000 after purchasing an additional 369,363 shares during the period. Mirabella Financial Services LLP purchased a new stake in Bitdeer Technologies Group during the 3rd quarter worth approximately $5,872,000. Point72 Hong Kong Ltd acquired a new position in shares of Bitdeer Technologies Group in the second quarter worth $4,510,000. Shariaportfolio Inc. purchased a new stake in Bitdeer Technologies Group during the 3rd quarter worth about $1,039,000. Finally, Thomist Capital Management LP acquired a new stake in Bitdeer Technologies Group in the 2nd quarter valued at about $1,156,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Trading Up 6.6 %

NASDAQ BTDR traded up $0.92 on Tuesday, reaching $14.76. 6,572,700 shares of the company were exchanged, compared to its average volume of 2,486,906. The business’s fifty day moving average price is $8.99 and its 200 day moving average price is $8.43. The stock has a market capitalization of $1.65 billion, a P/E ratio of -28.86 and a beta of 2.26. Bitdeer Technologies Group has a fifty-two week low of $5.06 and a fifty-two week high of $15.50.

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.