BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) Short Interest Up 112.9% in September

Key Points

• BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) experienced a dramatic increase in short interest, rising **112.9%** in September, with a total of **13,520,000 shares shorted** as of September 15th.
• Investment firm ThinkEquity has upgraded BitMine to a **"strong-buy"** rating, contributing to its consensus rating among analysts.
• Several institutional investors have made significant contributions, with new stakes totaling over **$3 million** in the second quarter, indicating growing interest in the company.

BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR - Get Free Report) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 13,520,000 shares, a growth of 112.9% from the August 31st total of 6,350,000 shares. Based on an average trading volume of 45,000,000 shares, the short-interest ratio is presently 0.3 days. Currently, 8.3% of the shares of the stock are short sold. Currently, 8.3% of the shares of the stock are short sold. Based on an average trading volume of 45,000,000 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analyst Weigh In

Separately, ThinkEquity raised shares of BitMine Immersion Technologies to a "strong-buy" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, BitMine Immersion Technologies presently has a consensus rating of "Strong Buy".

Insider Activity at BitMine Immersion Technologies

In other news, Director Thomas Jong Lee purchased 222,222 shares of the company's stock in a transaction dated Wednesday, July 9th. The stock was bought at an average cost of $4.50 per share, for a total transaction of $999,999.00. Following the purchase, the director owned 222,222 shares of the company's stock, valued at approximately $999,999. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On BitMine Immersion Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Marex Group plc bought a new stake in shares of BitMine Immersion Technologies during the second quarter worth about $465,000. Sassicaia Capital Advisers LLC purchased a new position in BitMine Immersion Technologies during the second quarter worth about $1,570,000. Skandinaviska Enskilda Banken AB publ purchased a new position in BitMine Immersion Technologies during the second quarter worth about $508,000. Lauer Wealth LLC purchased a new position in BitMine Immersion Technologies during the second quarter worth about $363,000. Finally, XTX Topco Ltd purchased a new position in BitMine Immersion Technologies during the second quarter worth about $374,000.

BitMine Immersion Technologies Trading Up 0.3%

Shares of NYSEAMERICAN:BMNR traded up $0.15 during midday trading on Friday, hitting $56.65. 49,191,919 shares of the company's stock were exchanged, compared to its average volume of 49,407,260. The business's 50 day moving average price is $48.58. The stock has a market cap of $15.83 billion and a P/E ratio of -128.75. BitMine Immersion Technologies has a 12 month low of $1.93 and a 12 month high of $161.00.

BitMine Immersion Technologies Company Profile

BitMine Immersion Technologies Inc focused on bitcoin mining using immersion technology. BitMine Immersion Technologies Inc is based in ATLANTA, GA.

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