BitMine Immersion Technologies (NYSE:BMNR – Get Free Report) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks reports.
A number of other analysts have also weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of BitMine Immersion Technologies in a report on Tuesday, October 13th. Wall Street Zen upgraded BitMine Immersion Technologies from a “strong sell” rating to a “sell” rating in a report on Saturday, October 10th. B. Riley Financial lifted their price target on BitMine Immersion Technologies from $30.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of BitMine Immersion Technologies in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.80.
Check Out Our Latest Analysis on BMNR
BitMine Immersion Technologies Stock Performance
Shares of BMNR opened at $19.22 on Tuesday. The company has a 50 day moving average price of $23.67 and a 200-day moving average price of $20.61. BitMine Immersion Technologies has a fifty-two week low of $12.80 and a fifty-two week high of $42.08. The stock has a market capitalization of $11.59 billion, a PE ratio of 150.67 and a beta of 1.80.
BitMine Immersion Technologies (NYSE:BMNR – Get Free Report) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($10.57) earnings per share (EPS) for the quarter. The business had revenue of $64.94 million for the quarter. BitMine Immersion Technologies had a negative net margin of 5,058.36% and a positive return on equity of 0.25%. Equities research analysts forecast that BitMine Immersion Technologies will post 0.23 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in BMNR. Pinnacle Wealth Planning Services Inc. raised its stake in BitMine Immersion Technologies by 1,696.6% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,060 shares of the company’s stock valued at $28,000 after buying an additional 1,001 shares during the last quarter. Quintet Private Bank Europe S.A. boosted its holdings in BitMine Immersion Technologies by 100.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 1,150 shares of the company’s stock worth $30,000 after acquiring an additional 575 shares in the last quarter. Legacy Wealth Managment LLC ID grew its stake in shares of BitMine Immersion Technologies by 40.8% during the first quarter. Legacy Wealth Managment LLC ID now owns 1,966 shares of the company’s stock worth $39,000 after acquiring an additional 570 shares during the last quarter. Western Wealth Management LLC purchased a new stake in shares of BitMine Immersion Technologies during the first quarter worth about $58,000. Finally, Versant Capital Management Inc grew its stake in shares of BitMine Immersion Technologies by 7,455.0% during the third quarter. Versant Capital Management Inc now owns 3,022 shares of the company’s stock worth $80,000 after acquiring an additional 2,982 shares during the last quarter.
BitMine Immersion Technologies Company Profile
BitMine Immersion Technologies is a digital-asset company whose business has included Bitcoin mining and immersion-cooling technology. Immersion cooling uses liquid to manage the heat generated by computing equipment and can support the operation of mining hardware. The company has shifted its strategic focus toward acquiring and holding Ether as a treasury asset. Its history in Bitcoin mining and cooling technology provides context for its involvement in digital-asset infrastructure, while its current strategy centers on Ether.
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