MADDEN SECURITIES Corp Invests $4.56 Million in BitMine Immersion Technologies, Inc. $BMNR

Key Points

• MADDEN SECURITIES Corp acquired a new position in BitMine Immersion Technologies (BMNR), buying 87,730 shares valued at approximately $4.56 million, representing about 1.4% of the firm's holdings and its 23rd largest holding.
• Multiple other institutional investors also opened sizable Q3 positions — including Strong Tower (~$14.35M), Halter Ferguson (~$11.32M), Oriental Harbor (~$9.65M), Robeco (~$7.27M) and Commonwealth (~$7.02M).
• BMNR recently traded around $30.06 with a 52-week range of $3.20–$161, a market cap of ~$12.8 billion and a negative P/E (~-68.32); the company reported $15.90 EPS on $1.32M revenue for the quarter, paid a $0.01 annual dividend (3.0% yield), and carries an average analyst target near $43 (consensus "Buy").

MADDEN SECURITIES Corp acquired a new position in BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 87,730 shares of the company's stock, valued at approximately $4,556,000. BitMine Immersion Technologies makes up about 1.4% of MADDEN SECURITIES Corp's holdings, making the stock its 23rd largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. Strong Tower Advisory Services acquired a new position in BitMine Immersion Technologies during the third quarter worth about $14,354,000. Halter Ferguson Financial Inc. purchased a new position in shares of BitMine Immersion Technologies during the 3rd quarter worth approximately $11,318,000. Oriental Harbor Investment Master Fund acquired a new position in shares of BitMine Immersion Technologies during the 3rd quarter worth approximately $9,652,000. Robeco Institutional Asset Management B.V. purchased a new stake in BitMine Immersion Technologies in the 3rd quarter valued at approximately $7,270,000. Finally, Commonwealth Equity Services LLC acquired a new stake in BitMine Immersion Technologies during the 3rd quarter valued at $7,022,000.

BitMine Immersion Technologies Stock Performance

NYSEAMERICAN BMNR opened at $30.06 on Friday. BitMine Immersion Technologies, Inc. has a fifty-two week low of $3.20 and a fifty-two week high of $161.00. The business has a 50 day moving average of $32.93. The stock has a market cap of $12.80 billion and a PE ratio of -68.32.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR - Get Free Report) last posted its quarterly earnings data on Friday, November 21st. The company reported $15.90 earnings per share (EPS) for the quarter. The company had revenue of $1.32 million for the quarter. BitMine Immersion Technologies had a net margin of 5,719.06% and a return on equity of 16.02%.

BitMine Immersion Technologies Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 8th were issued a $0.01 dividend. The ex-dividend date was Monday, December 8th. This represents a yield of 3.0%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BMNR shares. Zacks Research raised shares of BitMine Immersion Technologies to a "hold" rating in a research note on Friday, October 17th. B. Riley dropped their price objective on shares of BitMine Immersion Technologies from $90.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, November 20th. Finally, Cantor Fitzgerald assumed coverage on shares of BitMine Immersion Technologies in a research note on Monday. They issued an "overweight" rating and a $39.00 target price 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 given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $43.00.

BitMine Immersion Technologies Company 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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