Militia Capital Management LLC purchased a new stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR – Free Report) during the 1st quarter, Holdings Channel reports. The fund purchased 82,098 shares of the company’s stock, valued at approximately $1,624,000.
Several other hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers acquired a new stake in BitMine Immersion Technologies in the third quarter worth about $305,000. Blair William & Co. IL acquired a new position in BitMine Immersion Technologies during the 3rd quarter valued at about $444,000. CreativeOne Wealth LLC acquired a new position in BitMine Immersion Technologies during the 3rd quarter valued at about $282,000. Jefferies Financial Group Inc. bought a new position in shares of BitMine Immersion Technologies in the 3rd quarter valued at about $508,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of BitMine Immersion Technologies in the 3rd quarter valued at about $56,000.
Analysts Set New Price Targets
Several brokerages have recently commented on BMNR. B. Riley Financial lowered their price target on shares of BitMine Immersion Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Cantor Fitzgerald cut their price objective on shares of BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BitMine Immersion Technologies in a research note on Wednesday, July 15th. One investment analyst has 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.65.
BitMine Immersion Technologies Price Performance
Shares of NYSE:BMNR opened at $17.71 on Thursday. The company has a market capitalization of $10.68 billion and a price-to-earnings ratio of -136.25. The firm’s 50 day simple moving average is $16.58 and its 200 day simple moving average is $20.74. BitMine Immersion Technologies, Inc. has a fifty-two week low of $12.80 and a fifty-two week high of $71.74.
BitMine Immersion Technologies (NYSE:BMNR – Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The company reported ($128.25) earnings per share for the quarter. The firm had revenue of $46.53 million for the quarter. BitMine Immersion Technologies had a positive return on equity of 3.35% and a negative net margin of 14,306.56%. Equities research analysts expect that BitMine Immersion Technologies, Inc. will post 0.06 earnings per share for the current year.
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.
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