Lee Johnson Capital Management LLC Acquires 59,671 Shares of BitMine Immersion Technologies, Inc. $BMNR

Key Points

• Lee Johnson Capital Management LLC increased its stake in BitMine Immersion Technologies by 1,014.6% in Q4, purchasing an additional 59,671 shares to hold 65,552 shares valued at about $1.78 million.
• BMNR shares opened at $20.80 with a 52-week range of $3.20–$161.00, and analysts hold a consensus "Buy" rating with a consensus price target of $34.50 (B. Riley cut its target to $30 while Cantor Fitzgerald set $39).

Lee Johnson Capital Management LLC lifted its stake in BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR - Free Report) by 1,014.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,552 shares of the company's stock after purchasing an additional 59,671 shares during the period. Lee Johnson Capital Management LLC's holdings in BitMine Immersion Technologies were worth $1,780,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CNB Bank acquired a new stake in BitMine Immersion Technologies in the third quarter worth about $26,000. Strategic Advocates LLC purchased a new position in BitMine Immersion Technologies in the 3rd quarter worth $27,000. Quintet Private Bank Europe S.A. purchased a new position in BitMine Immersion Technologies in the 3rd quarter worth $30,000. Guerra Advisors Inc acquired a new stake in BitMine Immersion Technologies during the 3rd quarter worth about $31,000. Finally, Wellington Shields Capital Management LLC acquired a new position in shares of BitMine Immersion Technologies in the third quarter valued at about $31,000.

BitMine Immersion Technologies Price Performance

Shares of BMNR stock opened at $20.80 on Wednesday. BitMine Immersion Technologies, Inc. has a 52-week low of $3.20 and a 52-week high of $161.00. The business has a 50-day simple moving average of $22.83 and a 200-day simple moving average of $34.97.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR - Get Free Report) last issued its quarterly earnings data on Tuesday, January 13th. The company reported ($0.05) EPS for the quarter. BitMine Immersion Technologies had a positive return on equity of 7.89% and a negative net margin of 67,546.19%.The firm had revenue of $2.29 million for the quarter.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. B. Riley Financial reduced their price objective on BitMine Immersion Technologies from $47.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, February 23rd. Cantor Fitzgerald began coverage on shares of BitMine Immersion Technologies in a report on Monday, January 5th. They issued an "overweight" rating and a $39.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $34.50.

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.

Want to see what other hedge funds are holding BMNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.