160,057 Shares in BitMine Immersion Technologies, Inc. $BMNR Purchased by Sovran Advisors LLC

Sovran Advisors LLC bought a new stake in BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) during the third quarter, HoldingsChannel.com reports. The fund bought 160,057 shares of the company’s stock, valued at approximately $8,312,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BMNR. CNB Bank purchased a new position in shares of BitMine Immersion Technologies during the third quarter valued at approximately $26,000. Quintet Private Bank Europe S.A. purchased a new position in shares of BitMine Immersion Technologies during the 3rd quarter worth $30,000. HM Payson & Co. acquired a new stake in shares of BitMine Immersion Technologies during the third quarter worth $35,000. American Capital Advisory LLC purchased a new stake in shares of BitMine Immersion Technologies in the third quarter valued at $36,000. Finally, Parkside Financial Bank & Trust acquired a new position in BitMine Immersion Technologies in the third quarter valued at $52,000.

Analyst Ratings Changes

BMNR has been the subject of several recent analyst reports. Cantor Fitzgerald initiated coverage on BitMine Immersion Technologies in a report on Monday, January 5th. They issued an “overweight” rating and a $39.00 price target for the company. Zacks Research raised shares of BitMine Immersion Technologies to a “hold” rating in a research report on Friday, October 17th. Finally, B. Riley cut their price target on shares of BitMine Immersion Technologies from $90.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Two 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $43.00.

BitMine Immersion Technologies Trading Down 0.3%

Shares of NYSEAMERICAN:BMNR opened at $28.80 on Monday. The stock has a 50-day simple moving average of $31.13 and a 200-day simple moving average of $41.80. BitMine Immersion Technologies, Inc. has a 1 year low of $3.20 and a 1 year high of $161.00.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last posted its quarterly earnings results on Tuesday, January 13th. The company reported ($12.74) EPS for the quarter. BitMine Immersion Technologies had a negative net margin of 67,546.19% and a positive return on equity of 7.89%. The business had revenue of $2.29 million during the quarter.

BitMine Immersion Technologies Dividend Announcement

The business also recently announced an annual dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 8th were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a dividend yield of 3.0%.

BitMine Immersion Technologies 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.