140,000 Shares in BitMine Immersion Technologies, Inc. $BMNR Purchased by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management opened a new position in BitMine Immersion Technologies (BMNR) in Q3, buying 140,000 shares worth about $7.27 million and ending the quarter with a 0.05% stake, alongside several other new institutional investors including Strong Tower Advisory and Halter Ferguson.
• Brokerages have recently weighed in: Cantor Fitzgerald started coverage with an "Overweight" rating and $39 target, B. Riley cut its target to $47 (still a "Buy"), and the stock's consensus rating is "Buy" with a $43 consensus price target.
• BMNR shares opened at $30.06, trade within a one-year range of $3.20–$161.00, have a market cap of $12.8 billion and a negative P/E of -68.32; the company reported $15.90 EPS on $1.32 million in quarterly revenue and paid a $0.01 annual dividend (reported yield 3.0%).

Robeco Institutional Asset Management B.V. acquired a new position in shares of BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 140,000 shares of the company's stock, valued at approximately $7,270,000. Robeco Institutional Asset Management B.V. owned 0.05% of BitMine Immersion Technologies at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BMNR. Strong Tower Advisory Services purchased a new position in shares of BitMine Immersion Technologies in the third quarter worth approximately $14,354,000. Voya Investment Management LLC purchased a new position in BitMine Immersion Technologies during the 3rd quarter worth approximately $2,327,000. Halter Ferguson Financial Inc. acquired a new stake in BitMine Immersion Technologies during the 3rd quarter valued at $11,318,000. Ariose Capital Management Ltd acquired a new stake in BitMine Immersion Technologies during the 3rd quarter valued at $2,333,000. Finally, Oriental Harbor Investment Master Fund purchased a new stake in shares of BitMine Immersion Technologies in the third quarter valued at $9,652,000.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BMNR. Cantor Fitzgerald started coverage on BitMine Immersion Technologies in a report on Monday. They set an "overweight" rating and a $39.00 price target on the stock. Zacks Research upgraded BitMine Immersion Technologies to a "hold" rating in a research report on Friday, October 17th. Finally, B. Riley lowered their target price on 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 analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $43.00.

BitMine Immersion Technologies Stock Down 3.9%

Shares of NYSEAMERICAN BMNR opened at $30.06 on Friday. BitMine Immersion Technologies, Inc. has a one year low of $3.20 and a one year high of $161.00. The company has a 50-day moving average price of $32.93. The stock has a market capitalization of $12.80 billion and a P/E ratio of -68.32.

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

BitMine Immersion Technologies Dividend Announcement

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

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.

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