Short Interest in Bitdeer Technologies Group (NASDAQ:BTDR) Grows By 17.3%

Bitdeer Technologies Group (NASDAQ:BTDR) was the target of a significant increase in short interest during the month of 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 shares are sold short. Based on an average daily volume of 3,460,000 shares, the short-interest ratio is presently 3.6 days.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock traded up $2.04 during trading hours on Friday, reaching $14.27. 15,867,546 shares of the company’s stock were exchanged, compared to its average volume of 6,126,071. Bitdeer Technologies Group has a fifty-two week low of $4.26 and a fifty-two week high of $15.50. The stock’s 50 day moving average is $8.99 and its 200-day moving average is $8.41.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BTDR shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.00 price target on shares of Bitdeer Technologies Group in a report on Thursday, October 3rd. HC Wainwright increased their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. B. Riley lowered 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. Rosenblatt Securities raised their price target on shares of Bitdeer Technologies Group from $9.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of Bitdeer Technologies Group in a research note on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $14.80.

Hedge Funds Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at about $66,000. Centiva Capital LP acquired a new position in shares of Bitdeer Technologies Group during the third quarter valued at approximately $91,000. Barclays PLC acquired a new stake in Bitdeer Technologies Group during the 3rd quarter worth $161,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Bitdeer Technologies Group during the 3rd quarter valued at about $169,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Bitdeer Technologies Group in the third quarter valued at approximately $220,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.