BitMine Immersion Technologies (NYSE:BMNR – Get Free Report) had its price target reduced by equities research analysts at B. Riley Financial from $33.00 to $25.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial’s price target would indicate a potential upside of 59.73% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. Cantor Fitzgerald lowered their price objective on BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating on the stock in a research report on Wednesday, July 1st. Weiss Ratings started coverage on BitMine Immersion Technologies in a research note on Friday, April 17th. They issued a “sell (d-)” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.65.
View Our Latest Analysis on BitMine Immersion Technologies
BitMine Immersion Technologies Trading Down 0.9%
BitMine Immersion Technologies (NYSE:BMNR – Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The company reported ($128.25) earnings per share (EPS) for the quarter. The firm had revenue of $46.53 million during the quarter. BitMine Immersion Technologies had a positive return on equity of 3.49% and a negative net margin of 14,306.56%. As a group, equities research analysts forecast that BitMine Immersion Technologies will post 0.29 earnings per share for the current year.
Hedge Funds Weigh In On BitMine Immersion Technologies
A number of hedge funds and other institutional investors have recently modified their holdings of BMNR. Marex Group plc boosted its stake in BitMine Immersion Technologies by 560.1% in the fourth quarter. Marex Group plc now owns 10,024,103 shares of the company’s stock worth $272,154,000 after buying an additional 8,505,421 shares in the last quarter. Weiss Asset Management LP lifted its holdings in shares of BitMine Immersion Technologies by 363.6% in the 1st quarter. Weiss Asset Management LP now owns 4,328,294 shares of the company’s stock worth $85,614,000 after acquiring an additional 3,394,677 shares during the last quarter. Mozayyx Management LLC purchased a new stake in shares of BitMine Immersion Technologies in the 4th quarter valued at $90,500,000. Morgan Stanley boosted its stake in shares of BitMine Immersion Technologies by 25.8% in the 4th quarter. Morgan Stanley now owns 12,197,071 shares of the company’s stock valued at $331,151,000 after purchasing an additional 2,500,368 shares in the last quarter. Finally, Pantera Capital Partners LP bought a new position in shares of BitMine Immersion Technologies during the 3rd quarter valued at $122,036,000.
About BitMine Immersion Technologies
BitMine Immersion Technologies, Inc (NYSE American: BMNR) is an engineering and technology company specializing in immersion cooling solutions for digital asset mining and high-performance computing (HPC) applications. The company develops proprietary direct-to-chip systems that submerge servers in non-conductive dielectric fluids to efficiently remove heat, enabling clients to achieve higher processing density and improved energy efficiency.
BitMine offers turnkey services spanning system design, equipment supply, installation and ongoing maintenance.
Featured Articles
- Five stocks we like better than BitMine Immersion Technologies
- Why Abbott Laboratories Stock Is Suddenly Winning Back Wall Street
- Revving Up Returns: Big Banks Race Through the Rate Plateau
- Why Uber’s Biggest Deal Yet Could Unlock Its Next Growth Phase
- Why Microsoft Is Playing a Different AI Game Than Big Tech—and Cash Flow Is the Test
Receive News & Ratings for BitMine Immersion Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BitMine Immersion Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
