82,098 Shares in BitMine Immersion Technologies, Inc. $BMNR Purchased by Militia Capital Management LLC

Key Points

• Militia Capital Management LLC opened a new position in BitMine Immersion Technologies in the first quarter, buying 82,098 shares worth about $1.62 million.
• BitMine shares were up 2.8% to $17.71, with the stock trading well below its 12-month high of $71.74 and above its low of $12.80.
• Analysts remain mixed: recent target cuts came from Cantor Fitzgerald and B. Riley, while consensus still sits at a “Moderate Buy” with an average price target of $27.65.

Militia Capital Management LLC purchased a new position in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 82,098 shares of the company's stock, valued at approximately $1,624,000.

Other institutional investors also recently added to or reduced their stakes in the company. Milestone Asset Management LLC grew its stake in shares of BitMine Immersion Technologies by 5.6% in the 4th quarter. Milestone Asset Management LLC now owns 8,185 shares of the company's stock valued at $222,000 after purchasing an additional 432 shares during the period. CWA Asset Management Group LLC lifted its position in shares of BitMine Immersion Technologies by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 12,455 shares of the company's stock worth $338,000 after buying an additional 470 shares during the period. Certuity LLC boosted its stake in BitMine Immersion Technologies by 0.3% in the 4th quarter. Certuity LLC now owns 180,707 shares of the company's stock valued at $4,906,000 after buying an additional 552 shares in the last quarter. Legacy Wealth Managment LLC ID boosted its stake in 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 valued at $39,000 after buying an additional 570 shares in the last quarter. Finally, Dakota Wealth Management boosted its stake in BitMine Immersion Technologies by 6.2% in the 4th quarter. Dakota Wealth Management now owns 12,140 shares of the company's stock valued at $330,000 after buying an additional 710 shares in the last quarter.

BitMine Immersion Technologies Stock Up 2.8%

Shares of NYSE BMNR opened at $17.71 on Thursday. BitMine Immersion Technologies, Inc. has a 12-month low of $12.80 and a 12-month high of $71.74. The firm's 50-day simple moving average is $16.58 and its 200 day simple moving average is $20.74. The company has a market cap of $10.68 billion and a price-to-earnings ratio of -136.25.

BitMine Immersion Technologies (NYSE:BMNR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The company reported ($128.25) earnings per share for the quarter. BitMine Immersion Technologies had a negative net margin of 14,306.56% and a positive return on equity of 3.35%. The company had revenue of $46.53 million during the quarter. On average, equities analysts expect that BitMine Immersion Technologies, Inc. will post 0.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Cantor Fitzgerald dropped their price objective on BitMine Immersion Technologies from $39.00 to $30.30 and set an "overweight" rating for the company in a research note on Wednesday, July 1st. B. Riley Financial reduced their target price on shares of BitMine Immersion Technologies from $33.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BitMine Immersion Technologies in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $27.65.

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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