Private Advisor Group LLC Has $4.22 Million Position in BitMine Immersion Technologies, Inc. $BMNR

Private Advisor Group LLC boosted its position in BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 51.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 213,430 shares of the company’s stock after buying an additional 72,326 shares during the quarter. Private Advisor Group LLC’s holdings in BitMine Immersion Technologies were worth $4,222,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Strategic Advocates LLC bought a new stake in shares of BitMine Immersion Technologies in the third quarter worth $27,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of BitMine Immersion Technologies during the 4th quarter worth about $27,000. Ankerstar Wealth LLC bought a new position in shares of BitMine Immersion Technologies in the 4th quarter valued at about $27,000. Lodestone Wealth Management LLC bought a new position in shares of BitMine Immersion Technologies in the 4th quarter valued at about $30,000. Finally, Trust Co. of Vermont increased its position in shares of BitMine Immersion Technologies by 424.4% in the fourth quarter. Trust Co. of Vermont now owns 1,180 shares of the company’s stock valued at $32,000 after acquiring an additional 955 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BMNR shares. Cantor Fitzgerald lowered their price target on BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating on the stock in a research report on Wednesday, July 1st. Weiss Ratings assumed coverage on shares of BitMine Immersion Technologies in a report on Friday, April 17th. They set a “sell (d-)” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.15.

BitMine Immersion Technologies Stock Down 4.5%

Shares of NYSE BMNR opened at $14.85 on Wednesday. The business’s 50 day moving average price is $17.92 and its two-hundred day moving average price is $21.76. The company has a market cap of $8.46 billion and a PE ratio of -114.25. BitMine Immersion Technologies, Inc. has a twelve month low of $12.80 and a twelve month high of $134.48.

BitMine Immersion Technologies (NYSE:BMNR) last released its quarterly earnings data on Tuesday, April 14th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $11.04 million during the quarter. BitMine Immersion Technologies had a negative net margin of 51,892.77% and a positive return on equity of 5.59%. As a group, research analysts anticipate that BitMine Immersion Technologies, Inc. will post 0.29 EPS for the current fiscal year.

About BitMine Immersion Technologies

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.