Bank of America Corp DE trimmed its holdings in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR - Free Report) by 71.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 903,346 shares of the company's stock after selling 2,258,739 shares during the period. Bank of America Corp DE owned approximately 0.16% of BitMine Immersion Technologies worth $17,868,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in BMNR. Pilgrim Partners Asia Pte Ltd bought a new stake in BitMine Immersion Technologies in the fourth quarter valued at $27,000. Ankerstar Wealth LLC bought a new position in shares of BitMine Immersion Technologies during the fourth quarter valued at $27,000. Banque Cantonale Vaudoise boosted its stake in shares of BitMine Immersion Technologies by 72.3% in the 1st quarter. Banque Cantonale Vaudoise now owns 1,859 shares of the company's stock valued at $37,000 after purchasing an additional 780 shares in the last quarter. Larson Financial Group LLC acquired a new stake in shares of BitMine Immersion Technologies in the 3rd quarter valued at $37,000. Finally, Legacy Wealth Managment LLC ID grew its holdings in shares of BitMine Immersion Technologies by 153.8% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 1,396 shares of the company's stock worth $38,000 after purchasing an additional 846 shares during the last quarter.
Wall Street Analysts Forecast Growth
BMNR has been the topic of a number of recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of BitMine Immersion Technologies in a research report on Wednesday, July 15th. B. Riley Financial cut their target price on shares of BitMine Immersion Technologies from $33.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, July 16th. Finally, Cantor Fitzgerald cut their target price on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.65.
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BitMine Immersion Technologies Stock Up 10.7%
Shares of NYSE BMNR opened at $20.23 on Thursday. BitMine Immersion Technologies, Inc. has a 12-month low of $12.80 and a 12-month high of $65.60. The firm's 50-day simple moving average is $16.39 and its 200 day simple moving average is $19.00. The company has a market cap of $12.20 billion, a price-to-earnings ratio of 404.64 and a beta of 1.30.
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.
BitMine Immersion Technologies Profile
(
Free Report)
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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