Dimensional Fund Advisors LP Acquires Shares of 216,140 BitMine Immersion Technologies, Inc. $BMNR

Key Points

• Dimensional Fund Advisors acquired 216,140 shares of BitMine Immersion Technologies in the first quarter, valued at approximately $4.28 million. Several other institutional investors also initiated or increased positions.
• Analyst views remain mixed: the consensus rating is “Moderate Buy” with a $27.65 target price, although B. Riley and Cantor Fitzgerald recently lowered their price targets and Weiss Ratings maintained a sell rating.
• BMNR opened at $17.98 and has traded between $12.80 and $71.74 over the past year. The company reported $46.53 million in quarterly revenue but a substantial loss of $128.25 per share and a negative net margin.

Dimensional Fund Advisors LP bought a new position in BitMine Immersion Technologies, Inc. (NYSE:BMNR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 216,140 shares of the company's stock, valued at approximately $4,275,000.

Several other large investors have also recently modified their holdings of BMNR. Pilgrim Partners Asia Pte Ltd bought a new position in BitMine Immersion Technologies during the fourth quarter valued at $27,000. Ankerstar Wealth LLC bought a new stake in shares of BitMine Immersion Technologies in the 4th quarter worth about $27,000. Banque Cantonale Vaudoise boosted its stake in shares of BitMine Immersion Technologies by 72.3% during the 1st quarter. Banque Cantonale Vaudoise now owns 1,859 shares of the company's stock worth $37,000 after purchasing an additional 780 shares during the period. Larson Financial Group LLC purchased a new position in shares of BitMine Immersion Technologies during the 3rd quarter worth about $37,000. Finally, Legacy Wealth Managment LLC ID grew its holdings in BitMine Immersion Technologies by 153.8% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 1,396 shares of the company's stock valued at $38,000 after purchasing an additional 846 shares during the last quarter.

Analyst Ratings Changes

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

BitMine Immersion Technologies Trading Down 0.6%

NYSE:BMNR opened at $17.98 on Thursday. The company has a market cap of $10.85 billion, a price-to-earnings ratio of 359.60 and a beta of 1.30. BitMine Immersion Technologies, Inc. has a twelve month low of $12.80 and a twelve month high of $71.74. The stock has a fifty day simple moving average of $16.16 and a 200-day simple moving average of $19.35.

BitMine Immersion Technologies (NYSE:BMNR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The company reported ($128.25) 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. As a group, equities research analysts predict that BitMine Immersion Technologies, Inc. will post 0.06 EPS for the current fiscal year.

BitMine Immersion Technologies Profile

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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