BitMine Immersion Technologies, Inc. $BMNR Shares Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lifted its stake in shares of BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) by 57.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 220,000 shares of the company’s stock after purchasing an additional 80,000 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in BitMine Immersion Technologies were worth $5,973,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BMNR. ARK Investment Management LLC acquired a new position in shares of BitMine Immersion Technologies during the third quarter worth about $387,907,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of BitMine Immersion Technologies during the third quarter worth about $196,536,000. Amova Asset Management Americas Inc. acquired a new position in shares of BitMine Immersion Technologies during the third quarter worth about $196,503,000. Vanguard Group Inc. acquired a new position in shares of BitMine Immersion Technologies during the third quarter worth about $148,612,000. Finally, Pantera Capital Partners LP acquired a new position in shares of BitMine Immersion Technologies during the third quarter worth about $122,036,000.

BitMine Immersion Technologies Stock Up 4.0%

Shares of BMNR opened at $22.34 on Thursday. The stock has a 50 day moving average price of $20.44 and a 200 day moving average price of $31.51. BitMine Immersion Technologies, Inc. has a 52-week low of $3.20 and a 52-week high of $161.00.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last announced its quarterly earnings results on Tuesday, January 13th. The company reported ($0.05) earnings per share (EPS) for the quarter. The business had revenue of $2.29 million during the quarter. BitMine Immersion Technologies had a negative net margin of 67,546.19% and a positive return on equity of 7.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BMNR shares. B. Riley Financial lowered their price target on BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Cantor Fitzgerald raised BitMine Immersion Technologies to a “strong-buy” rating in a report on Thursday, April 9th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $34.50.

BitMine Immersion Technologies Company Profile

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.