135,228 Shares in BitMine Immersion Technologies, Inc. $BMNR Purchased by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services LLC bought a new stake of 135,228 shares of BitMine Immersion Technologies (BMNR) in Q3, valued at about $7.02 million, joining several other institutions that added smaller positions.
• Analysts give BMNR an average rating of "Buy" with a consensus target of $43; recent notes include B. Riley cutting its target from $90 to $47 (keeping a buy) and Cantor Fitzgerald initiating coverage with an "overweight" rating and a $39 target.
• BMNR opened at $31.22 (1‑year range $3.20–$161.00) with a market cap near $13.29 billion, reported quarterly EPS of $15.90, and recently paid an annual $0.01 dividend (about a 3.0% yield).

Commonwealth Equity Services LLC bought a new stake in BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 135,228 shares of the company's stock, valued at approximately $7,022,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quintet Private Bank Europe S.A. acquired a new stake in BitMine Immersion Technologies during the third quarter worth approximately $30,000. HM Payson & Co. acquired a new stake in shares of BitMine Immersion Technologies during the third quarter worth $35,000. Rise Advisors LLC purchased a new stake in shares of BitMine Immersion Technologies in the third quarter valued at $55,000. HBK Sorce Advisory LLC purchased a new position in BitMine Immersion Technologies during the third quarter worth about $176,000. Finally, CWM LLC acquired a new stake in BitMine Immersion Technologies in the 3rd quarter worth about $199,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BMNR shares. B. Riley dropped their price objective on shares of BitMine Immersion Technologies from $90.00 to $47.00 and set a "buy" rating for the company in a research note on Thursday, November 20th. Zacks Research raised shares of BitMine Immersion Technologies to a "hold" rating in a research report on Friday, October 17th. Finally, Cantor Fitzgerald initiated coverage on shares of BitMine Immersion Technologies in a research note on Monday, January 5th. They set an "overweight" rating and a $39.00 price target on the stock. Two 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 company. According to MarketBeat.com, BitMine Immersion Technologies presently has an average rating of "Buy" and a consensus target price of $43.00.

BitMine Immersion Technologies Stock Up 0.3%

Shares of NYSEAMERICAN:BMNR opened at $31.22 on Wednesday. BitMine Immersion Technologies, Inc. has a 1 year low of $3.20 and a 1 year high of $161.00. The stock has a market cap of $13.29 billion and a PE ratio of -70.95. The business's 50-day moving average price is $32.53.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR - Get Free Report) last posted its quarterly earnings results on Friday, November 21st. The company reported $15.90 EPS for the quarter. BitMine Immersion Technologies had a net margin of 5,719.06% and a return on equity of 16.02%. The firm had revenue of $1.32 million for the quarter.

BitMine Immersion Technologies Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 8th were issued a dividend of $0.01 per share. The ex-dividend date was Monday, December 8th. This represents a dividend yield of 3.0%.

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.

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