Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Update

Bitdeer Technologies Group (NASDAQ:BTDR) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 14,680,000 shares, an increase of 6.8% from the January 15th total of 13,740,000 shares. Based on an average daily trading volume, of 8,370,000 shares, the days-to-cover ratio is presently 1.8 days. Approximately 17.0% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. HC Wainwright increased their price target on Bitdeer Technologies Group from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Keefe, Bruyette & Woods initiated coverage on Bitdeer Technologies Group in a report on Monday, January 27th. They issued an “outperform” rating and a $26.50 price objective on the stock. Northland Securities increased their price objective on Bitdeer Technologies Group from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Needham & Company LLC raised their target price on Bitdeer Technologies Group from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Rosenblatt Securities raised their target price on Bitdeer Technologies Group from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $22.23.

Bitdeer Technologies Group Price Performance

Bitdeer Technologies Group stock traded down $0.08 during trading on Monday, reaching $16.50. 2,958,087 shares of the company were exchanged, compared to its average volume of 6,500,237. Bitdeer Technologies Group has a 52-week low of $5.23 and a 52-week high of $26.99. The company has a market capitalization of $1.85 billion, a P/E ratio of -31.73 and a beta of 2.04. The stock’s 50 day simple moving average is $19.77 and its two-hundred day simple moving average is $12.52.

Hedge Funds Weigh In On Bitdeer Technologies Group

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth $42,000. Stonebridge Financial Group LLC acquired a new stake in Bitdeer Technologies Group during the fourth quarter worth $65,000. Public Employees Retirement System of Ohio acquired a new stake in Bitdeer Technologies Group during the third quarter worth $66,000. SBI Securities Co. Ltd. acquired a new stake in shares of Bitdeer Technologies Group in the fourth quarter valued at $79,000. Finally, Centiva Capital LP acquired a new stake in shares of Bitdeer Technologies Group in the third quarter valued at $91,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.