Bank of New York Mellon Corp bought a new stake in BitMine Immersion Technologies, Inc. (NYSE:BMNR - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,507,787 shares of the company's stock, valued at approximately $20,069,000. Bank of New York Mellon Corp owned 0.25% of BitMine Immersion Technologies at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Larson Financial Group LLC purchased a new position in shares of BitMine Immersion Technologies during the 3rd quarter worth approximately $37,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of BitMine Immersion Technologies in the 3rd quarter worth about $38,000. Ankerstar Wealth LLC acquired a new stake in BitMine Immersion Technologies in the 4th quarter valued at about $27,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of BitMine Immersion Technologies during the 4th quarter worth approximately $27,000. Finally, Banque Cantonale Vaudoise purchased a new position in BitMine Immersion Technologies in the 3rd quarter valued at about $56,000.
BitMine Immersion Technologies Stock Performance
NYSE BMNR opened at $23.83 on Monday. BitMine Immersion Technologies, Inc. has a twelve month low of $12.80 and a twelve month high of $65.60. The firm's 50 day moving average price is $17.46 and its two-hundred day moving average price is $19.13. The stock has a market cap of $14.37 billion, a price-to-earnings ratio of 476.60 and a beta of 1.28.
BitMine Immersion Technologies (NYSE:BMNR - Get Free Report) last released its earnings results on Tuesday, July 14th. The company reported ($128.25) earnings per share (EPS) for the quarter. BitMine Immersion Technologies had a positive return on equity of 3.35% and a negative net margin of 14,306.56%.The company had revenue of $46.53 million during the quarter. On average, research analysts forecast that BitMine Immersion Technologies, Inc. will post 0.06 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of BitMine Immersion Technologies in a report on Wednesday, July 15th. B. Riley Financial cut their price target on shares of BitMine Immersion Technologies from $33.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, July 16th. Finally, Cantor Fitzgerald decreased their price objective on shares of BitMine Immersion Technologies from $39.00 to $30.30 and set an "overweight" rating for the company in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.65.
Check Out Our Latest Report on BitMine Immersion Technologies
About BitMine Immersion Technologies
(
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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