Public Employees Retirement System of Ohio Takes Position in BitMine Immersion Technologies, Inc. $BMNR

Key Points

• Public Employees Retirement System of Ohio acquired 160,672 BitMine Immersion Technologies shares during the second quarter, valued at approximately $2.14 million. Several other institutional investors also established new positions in the company.
• BMNR opened at $24.93, with a market capitalization of about $15.04 billion, but reported a quarterly loss of $128.25 per share on $46.53 million in revenue and a deeply negative net margin.
• Analyst sentiment is mixed but leans positive: BitMine has a “Moderate Buy” consensus rating and a $30.15 average price target, despite Weiss Ratings maintaining a “sell” rating.

Public Employees Retirement System of Ohio acquired a new stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 160,672 shares of the company's stock, valued at approximately $2,139,000.

Several other large investors also recently bought and sold shares of the business. Rhumbline Advisers bought a new position in BitMine Immersion Technologies during the 3rd quarter valued at about $305,000. Blair William & Co. IL bought a new stake in shares of BitMine Immersion Technologies in the third quarter worth approximately $444,000. CreativeOne Wealth LLC purchased a new position in shares of BitMine Immersion Technologies during the third quarter valued at approximately $282,000. Jefferies Financial Group Inc. purchased a new position in shares of BitMine Immersion Technologies during the third quarter valued at approximately $508,000. Finally, Banque Cantonale Vaudoise bought a new position in BitMine Immersion Technologies during the third quarter valued at approximately $56,000.

BitMine Immersion Technologies Stock Down 0.2%

NYSE BMNR opened at $24.93 on Monday. The company has a 50-day moving average price of $18.49 and a 200-day moving average price of $19.29. BitMine Immersion Technologies, Inc. has a 52 week low of $12.80 and a 52 week high of $65.60. The firm has a market capitalization of $15.04 billion, a P/E ratio of 498.60 and a beta of 1.61.

BitMine Immersion Technologies (NYSE:BMNR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The company reported ($128.25) earnings per share (EPS) for the quarter. The business had revenue of $46.53 million during the quarter. BitMine Immersion Technologies had a positive return on equity of 3.35% and a negative net margin of 14,306.56%. As a group, equities research analysts anticipate that BitMine Immersion Technologies, Inc. will post 0.06 EPS for the current year.

Analysts Set New Price Targets

BMNR has been the topic of several research reports. Weiss Ratings restated a "sell (d-)" rating on shares of BitMine Immersion Technologies in a report on Wednesday, July 15th. Cantor Fitzgerald decreased their target price on shares of BitMine Immersion Technologies from $39.00 to $30.30 and set an "overweight" rating for the company in a research note on Wednesday, July 1st. B Riley reissued a "buy" rating on shares of BitMine Immersion Technologies in a report on Thursday. Finally, B. Riley Financial raised their price target on BitMine Immersion Technologies from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BitMine Immersion Technologies has an average rating of "Moderate Buy" and a consensus target price of $30.15.

About BitMine Immersion Technologies

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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