Machina Capital S.A.S. Acquires 35,719 Shares of BitMine Immersion Technologies, Inc. $BMNR

Machina Capital S.A.S. acquired a new position in BitMine Immersion Technologies, Inc. (NYSE:BMNR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 35,719 shares of the company’s stock, valued at approximately $944,000.

A number of other large investors also recently modified their holdings of BMNR. Citizens Financial Group Inc. RI lifted its position in shares of BitMine Immersion Technologies by 1.5% in the third quarter. Citizens Financial Group Inc. RI now owns 32,730 shares of the company’s stock valued at $865,000 after acquiring an additional 484 shares in the last quarter. Legacy Wealth Managment LLC ID increased its holdings in shares of BitMine Immersion Technologies by 40.8% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 1,966 shares of the company’s stock worth $39,000 after buying an additional 570 shares during the last quarter. Quintet Private Bank Europe S.A. increased its stake in BitMine Immersion Technologies by 100.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 1,150 shares of the company’s stock worth $30,000 after acquiring an additional 575 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in BitMine Immersion Technologies by 16.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,620 shares of the company’s stock valued at $91,000 after buying an additional 658 shares during the period. Finally, Almanack Investment Partners LLC. raised its stake in shares of BitMine Immersion Technologies by 2.4% in the third quarter. Almanack Investment Partners LLC. now owns 29,750 shares of the company’s stock valued at $786,000 after acquiring an additional 700 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BMNR shares. Wall Street Zen raised BitMine Immersion Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 10th. Zacks Research raised BitMine Immersion Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of BitMine Immersion Technologies in a research note on Tuesday, October 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of BitMine Immersion Technologies in a research report on Tuesday, October 6th. Finally, B. Riley Financial boosted their target price on shares of BitMine Immersion Technologies from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.80.

BitMine Immersion Technologies Stock Performance

BMNR stock opened at $18.47 on Friday. The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 160.33 and a beta of 1.80. BitMine Immersion Technologies, Inc. has a one year low of $12.80 and a one year high of $42.08. The firm has a 50-day simple moving average of $23.58 and a two-hundred day simple moving average of $20.56.

BitMine Immersion Technologies (NYSE:BMNR) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($10.57) earnings per share (EPS) for the quarter. BitMine Immersion Technologies had a positive return on equity of 0.23% and a negative net margin of 5,058.36%. The firm had revenue of $64.94 million during the quarter. As a group, equities analysts predict that BitMine Immersion Technologies, Inc. will post 0.23 earnings per share for the current fiscal year.

BitMine Immersion Technologies Company Profile

BitMine Immersion Technologies is a digital-asset company whose business has included Bitcoin mining and immersion-cooling technology. Immersion cooling uses liquid to manage the heat generated by computing equipment and can support the operation of mining hardware. The company has shifted its strategic focus toward acquiring and holding Ether as a treasury asset. Its history in Bitcoin mining and cooling technology provides context for its involvement in digital-asset infrastructure, while its current strategy centers on Ether.