Bitdeer Technologies Group (NASDAQ:BTDR) Sees Significant Growth in Short Interest

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BTDR shares. HC Wainwright boosted their target price on Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. B. Riley boosted their target price on Bitdeer Technologies Group from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Benchmark boosted their target price on Bitdeer Technologies Group from $16.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Roth Mkm boosted their target price on Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $22.00 price target on shares of Bitdeer Technologies Group in a report on Monday, January 13th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $21.50.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of large investors have recently bought and sold shares of BTDR. Yong Rong HK Asset Management Ltd purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter worth $65,010,000. Van ECK Associates Corp purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter worth $29,125,000. Mirabella Financial Services LLP purchased a new position in shares of Bitdeer Technologies Group during the 3rd quarter worth $5,872,000. FengHe Fund Management Pte. Ltd. purchased a new position in shares of Bitdeer Technologies Group during the 4th quarter worth $10,378,000. Finally, Millennium Management LLC lifted its stake in shares of Bitdeer Technologies Group by 901.0% during the 2nd quarter. Millennium Management LLC now owns 410,359 shares of the company’s stock worth $4,210,000 after purchasing an additional 369,363 shares during the period. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Trading Down 4.0 %

Shares of NASDAQ:BTDR opened at $17.77 on Tuesday. The business’s fifty day moving average price is $19.34 and its two-hundred day moving average price is $12.05. Bitdeer Technologies Group has a one year low of $5.23 and a one year high of $26.99.

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.