BitMine Immersion Technologies, Inc. $BMNR Stock: Robeco Institutional Asset Management B.V. Raises Position

Key Points

• Robeco Institutional Asset Management increased its BMNR position by 21.1% in the third quarter, adding 80,996 shares to hold 465,145 shares valued at approximately $12.3 million.
• Other institutional investors also raised their holdings, including Versant Capital Management, which increased its position by 7,455%, while several smaller funds initiated or expanded positions.
• Analyst views remain mixed: B. Riley raised its price target to $34 and maintained a buy rating, while other firms issued sell or overweight views. MarketBeat lists a consensus rating of Hold and a target price of $48.80; BMNR opened at $22.43.

Robeco Institutional Asset Management B.V. raised its holdings in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR - Free Report) by 21.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 465,145 shares of the company's stock after purchasing an additional 80,996 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.08% of BitMine Immersion Technologies worth $12,294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quintet Private Bank Europe S.A. boosted its position in shares of BitMine Immersion Technologies by 100.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 1,150 shares of the company's stock valued at $30,000 after buying an additional 575 shares during the last quarter. Banque Cantonale Vaudoise increased its holdings in BitMine Immersion Technologies by 72.3% in the 1st quarter. Banque Cantonale Vaudoise now owns 1,859 shares of the company's stock worth $37,000 after buying an additional 780 shares in the last quarter. Legacy Wealth Managment LLC ID increased its holdings 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 worth $39,000 after buying an additional 570 shares in the last quarter. Western Wealth Management LLC purchased a new position in BitMine Immersion Technologies in the 1st quarter worth about $58,000. Finally, Versant Capital Management Inc raised its position in BitMine Immersion Technologies by 7,455.0% in the 3rd quarter. Versant Capital Management Inc now owns 3,022 shares of the company's stock worth $80,000 after buying an additional 2,982 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have issued reports on BMNR. B. Riley Financial upped their target price on shares of BitMine Immersion Technologies from $30.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, September 22nd. Wall Street Zen upgraded shares of BitMine Immersion Technologies from a "strong sell" rating to a "sell" rating in a research report on Saturday, October 10th. Cantor Fitzgerald restated an "overweight" rating on shares of BitMine Immersion Technologies in a report on Tuesday, October 6th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of BitMine Immersion Technologies in a report on Tuesday, October 13th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, BitMine Immersion Technologies presently has a consensus rating of "Hold" and a consensus target price of $48.80.

BitMine Immersion Technologies Trading Down 0.3%

BitMine Immersion Technologies stock opened at $22.43 on Friday. BitMine Immersion Technologies, Inc. has a one year low of $12.80 and a one year high of $54.54. The stock has a fifty day moving average of $24.40 and a 200 day moving average of $20.41.

BitMine Immersion Technologies Profile

BitMine Immersion Technologies, Inc is a digital asset technology company focused on cryptocurrency mining and digital asset treasury operations. The company has developed expertise in immersion-cooling systems designed to improve the efficiency and operating environment of high-performance computing equipment used in cryptocurrency mining.

In addition to its mining-related activities, BitMine has pursued a strategy centered on acquiring and holding digital assets, including Ethereum. Its business may also include cryptocurrency mining, data-center operations, and related infrastructure and services.

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