Militia Capital Management LLC Takes Position in BitMine Immersion Technologies, Inc. $BMNR

Key Points

• Militia Capital Management initiated a position of 82,098 BitMine Immersion Technologies shares in the first quarter, valued at approximately $1.624 million. Several other institutional investors also recently acquired BMNR stakes.
• Analyst sentiment is mixed but leans positive: BMNR has a consensus “Moderate Buy” rating and an average price target of $27.65, despite recent target-price cuts and one “sell” rating.
• BMNR opened at $17.30, with a $10.43 billion market capitalization and a share price well below its 12-month high of $71.74. The company reported quarterly revenue of $46.53 million but a loss of $128.25 per share.

Militia Capital Management LLC purchased a new position in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 82,098 shares of the company's stock, valued at approximately $1,624,000.

Several other institutional investors and hedge funds have also made changes to their positions in BMNR. Rhumbline Advisers purchased a new position in BitMine Immersion Technologies during the 3rd quarter valued at about $305,000. Blair William & Co. IL purchased a new stake in shares of BitMine Immersion Technologies in the third quarter valued at about $444,000. CreativeOne Wealth LLC acquired a new stake in shares of BitMine Immersion Technologies in the third quarter valued at approximately $282,000. Jefferies Financial Group Inc. acquired a new stake in shares of BitMine Immersion Technologies in the third quarter valued at approximately $508,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of BitMine Immersion Technologies during the 3rd quarter worth approximately $56,000.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BMNR shares. B. Riley Financial cut their price objective 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. Cantor Fitzgerald lowered their target price on BitMine Immersion Technologies from $39.00 to $30.30 and set an "overweight" rating on the stock in a report on Wednesday, July 1st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of BitMine Immersion Technologies in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, BitMine Immersion Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $27.65.

BitMine Immersion Technologies Trading Up 0.1%

NYSE:BMNR opened at $17.30 on Monday. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of 345.90 and a beta of 1.28. The company's 50-day moving average is $16.24 and its two-hundred day moving average is $20.04. BitMine Immersion Technologies, Inc. has a 12-month low of $12.80 and a 12-month high of $71.74.

BitMine Immersion Technologies (NYSE:BMNR - Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The company reported ($128.25) earnings per share (EPS) for the quarter. The firm had revenue of $46.53 million for the quarter. BitMine Immersion Technologies had a positive return on equity of 3.35% and a negative net margin of 14,306.56%. On average, equities research analysts forecast that BitMine Immersion Technologies, Inc. will post 0.06 earnings per share 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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