Short Interest in Bitdeer Technologies Group (NASDAQ:BTDR) Declines By 18.1%

Bitdeer Technologies Group (NASDAQ:BTDR) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 82,100 shares, a decline of 18.1% from the August 15th total of 100,300 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average trading volume of 106,400 shares, the short-interest ratio is presently 0.8 days.

Hedge Funds Weigh In On Bitdeer Technologies Group

A number of institutional investors have recently modified their holdings of the company. Van ECK Associates Corp purchased a new stake in Bitdeer Technologies Group in the 2nd quarter worth approximately $6,444,000. SC CHINA HOLDING Ltd acquired a new stake in shares of Bitdeer Technologies Group during the second quarter worth $45,242,000. SC US Ttgp LTD. purchased a new stake in shares of Bitdeer Technologies Group in the second quarter valued at $14,291,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Bitdeer Technologies Group in the second quarter valued at $347,000. Institutional investors and hedge funds own 81.47% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright started coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, September 6th. They issued a “buy” rating and a $20.00 price target on the stock.

Bitdeer Technologies Group Stock Performance

NASDAQ BTDR opened at $13.00 on Friday. Bitdeer Technologies Group has a fifty-two week low of $4.60 and a fifty-two week high of $14.60. The business has a fifty day moving average of $11.97. The firm has a market capitalization of $1.45 billion, a PE ratio of -26.00 and a beta of 0.92.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its quarterly earnings data on Friday, August 11th. The company reported ($0.06) EPS for the quarter. The company had revenue of $93.82 million during the quarter. As a group, analysts forecast that Bitdeer Technologies Group will post -0.46 EPS for the current fiscal year.

About Bitdeer Technologies Group

Bitdeer Technologies Group operates as a technology company for the cryptocurrency mining community. It mines cryptocurrencies for its own account and serve the cryptocurrency mining community by providing cryptocurrency mining solution. The company handles various processes involved in mining, such as miner procurement, transport logistics, mining datacenter design and construction, mining machine management, and daily operations.