Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Update

Bitdeer Technologies Group (NASDAQ:BTDR) was the recipient of a significant 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. Currently, 37.0% of the company’s stock are short sold. Based on an average daily volume of 3,460,000 shares, the short-interest ratio is presently 3.6 days.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BTDR. Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Needham & Company LLC restated a “buy” rating and issued a $14.00 target price on shares of Bitdeer Technologies Group in a report on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 target price on shares of Bitdeer Technologies Group in a research report on Thursday, October 3rd. Alliance Global Partners started coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, October 8th. They issued a “buy” rating and a $14.00 price target for the company. Finally, B. Riley dropped their price objective on Bitdeer Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $14.80.

Bitdeer Technologies Group Price Performance

BTDR traded up $0.92 during midday trading on Tuesday, reaching $14.76. 6,572,700 shares of the company’s stock were exchanged, compared to its average volume of 2,486,906. The business’s 50-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 PE ratio of -28.86 and a beta of 2.26. Bitdeer Technologies Group has a 1-year low of $5.06 and a 1-year high of $15.50.

Institutional Investors Weigh In On Bitdeer Technologies Group

Large investors have recently bought and sold shares of the stock. Mirabella Financial Services LLP acquired a new stake in Bitdeer Technologies Group during the third quarter worth about $5,872,000. D1 Capital Partners L.P. purchased a new position in Bitdeer Technologies Group in the second quarter valued at approximately $5,386,000. Marshall Wace LLP acquired a new position in Bitdeer Technologies Group during the second quarter valued at approximately $5,074,000. Point72 Asset Management L.P. purchased a new stake in Bitdeer Technologies Group during the second quarter worth approximately $4,617,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Bitdeer Technologies Group in the second quarter worth $4,510,000. Institutional investors and hedge funds 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.