RBF Capital LLC bought a new position in BitMine Immersion Technologies, Inc. (NYSE:BMNR – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 50,000 shares of the company’s stock, valued at approximately $989,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new position in BitMine Immersion Technologies in the 3rd quarter worth approximately $305,000. Blair William & Co. IL acquired a new position in shares of BitMine Immersion Technologies in the 3rd quarter worth approximately $444,000. CreativeOne Wealth LLC bought a new stake in BitMine Immersion Technologies during the 3rd quarter worth about $282,000. Jefferies Financial Group Inc. acquired a new position in shares of BitMine Immersion Technologies during the third quarter valued at $508,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of BitMine Immersion Technologies during the third quarter worth $56,000.
Analysts Set New Price Targets
Several research firms have recently weighed in on BMNR. Weiss Ratings reiterated a “sell (d-)” rating on shares of BitMine Immersion Technologies in a report on Wednesday, July 15th. B. Riley Financial reduced their price objective on shares of BitMine Immersion Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Finally, Cantor Fitzgerald decreased their target price on shares of BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, BitMine Immersion Technologies currently has an average rating of “Moderate Buy” and an average target price of $27.65.
BitMine Immersion Technologies Stock Down 5.4%
Shares of NYSE:BMNR opened at $16.62 on Thursday. The firm has a market cap of $10.02 billion and a PE ratio of 332.36. The company’s 50 day moving average price is $16.30 and its two-hundred day moving average price is $20.22. BitMine Immersion Technologies, Inc. has a 12-month low of $12.80 and a 12-month high of $71.74.
BitMine Immersion Technologies (NYSE:BMNR – Get Free Report) last released its earnings results on Tuesday, July 14th. The company reported ($128.25) earnings per share (EPS) for the quarter. The company 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%. On average, research analysts expect that BitMine Immersion Technologies, Inc. will post 0.06 EPS 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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