Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Up 7.0% in December

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 13,320,000 shares, an increase of 7.0% from the December 15th total of 12,450,000 shares. Based on an average daily trading volume, of 7,120,000 shares, the short-interest ratio is presently 1.9 days. Approximately 24.9% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Roth Mkm boosted their price target on Bitdeer Technologies Group from $15.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Alliance Global Partners started 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 on the stock. Benchmark lifted their price target on shares of Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a report on Monday, December 9th. Northland Securities upped their price objective on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, HC Wainwright raised their target price 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. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bitdeer Technologies Group presently has an average rating of “Buy” and an average price target of $21.00.

Bitdeer Technologies Group Trading Down 3.0 %

Shares of BTDR stock traded down $0.64 on Friday, reaching $20.90. The company had a trading volume of 9,311,970 shares, compared to its average volume of 8,017,907. The stock has a market cap of $2.34 billion, a PE ratio of -40.19 and a beta of 2.09. The company has a 50-day moving average of $17.80 and a 200-day moving average of $11.51. Bitdeer Technologies Group has a 12 month low of $5.23 and a 12 month high of $26.99.

Institutional Investors Weigh In On Bitdeer Technologies Group

Several hedge funds have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in shares of Bitdeer Technologies Group in the 2nd quarter valued at $276,000. Symmetry Investments LP bought a new stake in shares of Bitdeer Technologies Group in the second quarter worth about $432,000. D1 Capital Partners L.P. acquired a new stake in shares of Bitdeer Technologies Group during the second quarter worth about $5,386,000. Marshall Wace LLP bought a new position in shares of Bitdeer Technologies Group during the 2nd quarter valued at about $5,074,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Bitdeer Technologies Group in the 2nd quarter valued at approximately $4,510,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.