Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Up 8.6% in October

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 10,710,000 shares, an increase of 8.6% from the October 15th total of 9,860,000 shares. Based on an average daily volume of 2,820,000 shares, the days-to-cover ratio is presently 3.8 days. Currently, 31.6% of the company’s stock are short sold.

Bitdeer Technologies Group Stock Up 3.3 %

BTDR stock traded up $0.35 during mid-day trading on Friday, hitting $11.09. The company had a trading volume of 4,442,269 shares, compared to its average volume of 4,326,792. The company has a 50-day moving average price of $7.92 and a 200 day moving average price of $7.96. Bitdeer Technologies Group has a 12-month low of $3.78 and a 12-month high of $14.27.

Wall Street Analysts Forecast Growth

BTDR has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating and set a $16.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, August 13th. B. Riley lowered their price target on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $9.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, October 8th. Alliance Global Partners assumed coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a research note on Thursday, September 26th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Bitdeer Technologies Group currently has a consensus rating of “Buy” and a consensus target price of $13.70.

Institutional Trading of Bitdeer Technologies Group

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in Bitdeer Technologies Group in the third quarter worth about $66,000. Centiva Capital LP bought a new position in shares of Bitdeer Technologies Group during the 3rd quarter valued at approximately $91,000. Barclays PLC purchased a new stake in Bitdeer Technologies Group during the 3rd quarter valued at $161,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Bitdeer Technologies Group in the third quarter worth $169,000. Finally, Y Intercept Hong Kong Ltd boosted its stake in Bitdeer Technologies Group by 96.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 44,328 shares of the company’s stock worth $347,000 after buying an additional 21,798 shares during the period. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.