BitMine Immersion Technologies, Inc. $BMNR Stock Position Increased by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP increased its BMNR stake by 89.5% in the second quarter, holding 77,285 shares valued at approximately $1.03 million. Several other institutional investors also increased their positions.
• BMNR shares opened at $27.54, with a market capitalization of $16.62 billion and a 52-week range of $12.80 to $65.60. The company reported a quarterly loss of $128.25 per share on $46.53 million in revenue.
• Analyst views remain mixed: the consensus rating is “Hold” with a $48.80 price target, while recent firms issued both higher bullish targets and bearish “sell” recommendations.

Corient Private Wealth LP increased its holdings in BitMine Immersion Technologies, Inc. (NYSE:BMNR - Free Report) by 89.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 77,285 shares of the company's stock after acquiring an additional 36,495 shares during the period. Corient Private Wealth LP's holdings in BitMine Immersion Technologies were worth $1,029,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Wealth Managment LLC ID lifted its stake in shares of 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 purchasing an additional 570 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in BitMine Immersion Technologies by 16.6% during the first quarter. EverSource Wealth Advisors LLC now owns 4,620 shares of the company's stock worth $91,000 after buying an additional 658 shares during the period. Kingsview Wealth Management LLC increased its position in shares of BitMine Immersion Technologies by 4.8% during the fourth quarter. Kingsview Wealth Management LLC now owns 15,467 shares of the company's stock valued at $420,000 after acquiring an additional 711 shares during the last quarter. Banque Cantonale Vaudoise increased its position in shares of BitMine Immersion Technologies by 72.3% during the first quarter. Banque Cantonale Vaudoise now owns 1,859 shares of the company's stock valued at $37,000 after acquiring an additional 780 shares during the last quarter. Finally, GM Advisory Group LLC raised its stake in shares of BitMine Immersion Technologies by 7.0% in the 1st quarter. GM Advisory Group LLC now owns 15,350 shares of the company's stock valued at $304,000 after acquiring an additional 1,000 shares during the period.

BitMine Immersion Technologies Price Performance

Shares of NYSE:BMNR opened at $27.54 on Friday. The firm has a market capitalization of $16.62 billion, a PE ratio of 550.88 and a beta of 1.61. The firm's 50-day moving average is $21.73 and its two-hundred day moving average is $19.89. BitMine Immersion Technologies, Inc. has a 1 year low of $12.80 and a 1 year high of $65.60.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BMNR shares. Cantor Fitzgerald upped their price objective on shares of BitMine Immersion Technologies from $30.60 to $63.60 and gave the stock an "overweight" rating in a report on Thursday, September 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of BitMine Immersion Technologies in a report on Wednesday, July 15th. B. Riley Financial boosted their target price on BitMine Immersion Technologies from $30.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, September 22nd. Finally, Wall Street Zen cut BitMine Immersion Technologies from a "sell" rating to a "strong sell" rating in a research note on Tuesday, September 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $48.80.

BitMine Immersion Technologies Profile

BitMine Immersion Technologies, Inc is a digital asset and blockchain technology company focused on cryptocurrency mining and digital asset infrastructure. Its historical operations have centered on Bitcoin mining, using immersion-cooling technology to manage the heat generated by high-performance computing equipment and support more efficient mining operations.

The company has since expanded its strategy to include digital asset treasury activities, with an emphasis on acquiring and holding Ethereum.

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