Bitdeer Technologies Group (NASDAQ:BTDR) Short Interest Up 27.7% in December

Bitdeer Technologies Group (NASDAQ:BTDR) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 12,450,000 shares, an increase of 27.7% from the November 30th total of 9,750,000 shares. Based on an average trading volume of 6,160,000 shares, the days-to-cover ratio is presently 2.0 days. Currently, 36.7% of the company’s shares are sold short.

Institutional Investors Weigh In On Bitdeer Technologies Group

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

Bitdeer Technologies Group Stock Performance

BTDR opened at $23.65 on Friday. Bitdeer Technologies Group has a 1 year low of $5.23 and a 1 year high of $26.24. The firm has a 50 day moving average price of $14.03 and a 200 day moving average price of $10.34. The company has a market cap of $2.65 billion, a PE ratio of -45.48 and a beta of 2.27.

Analysts Set New Price Targets

BTDR has been the subject of several analyst reports. Benchmark boosted their price target on Bitdeer Technologies Group from $16.00 to $29.00 and gave the company a “buy” rating in a report on Monday, December 9th. Northland Capmk upgraded Bitdeer Technologies Group to a “strong-buy” rating in a research note on Wednesday, October 9th. B. Riley raised their price target on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, November 19th. Finally, Alliance Global Partners initiated coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They set a “buy” rating and a $14.00 price objective on the stock. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Bitdeer Technologies Group presently has a consensus rating of “Buy” and an average price target of $19.80.

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.