Robeco Institutional Asset Management B.V. Raises Stock Holdings in BitMine Immersion Technologies, Inc. $BMNR

Key Points

• Robeco Institutional Asset Management increased its stake in BitMine Immersion Technologies by 57.1% in Q4, adding 80,000 shares to hold 220,000 shares worth about $5.97 million, and several other large institutions (including ARK, Sumitomo Mitsui Trust, Vanguard and Pantera) also established sizable positions earlier in the year.
• Analysts have a consensus "Buy" rating with an average target price of $34.50; B. Riley cut its target to $30 (maintaining a Buy) while Cantor Fitzgerald upgraded to Strong Buy.
• Shares opened at $22.34 (1‑year range $3.20–$161) and the company reported Q4 EPS of ($0.05) on $2.29 million revenue, showing a positive ROE but an extremely negative net margin in the most recent quarter.

Robeco Institutional Asset Management B.V. boosted its stake in BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR - Free Report) by 57.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 220,000 shares of the company's stock after buying an additional 80,000 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in BitMine Immersion Technologies were worth $5,973,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. ARK Investment Management LLC purchased a new stake in BitMine Immersion Technologies in the 3rd quarter valued at about $387,907,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in BitMine Immersion Technologies in the 3rd quarter valued at about $196,536,000. Amova Asset Management Americas Inc. purchased a new stake in BitMine Immersion Technologies in the 3rd quarter valued at about $196,503,000. Vanguard Group Inc. purchased a new stake in BitMine Immersion Technologies in the 3rd quarter valued at about $148,612,000. Finally, Pantera Capital Partners LP purchased a new stake in BitMine Immersion Technologies in the 3rd quarter valued at about $122,036,000.

Analysts Set New Price Targets

BMNR has been the topic of several research analyst reports. B. Riley Financial reduced their price objective on shares of BitMine Immersion Technologies from $47.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, February 23rd. Cantor Fitzgerald upgraded shares of BitMine Immersion Technologies to a "strong-buy" rating in a report on Thursday, April 9th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $34.50.

BitMine Immersion Technologies Price Performance

Shares of BitMine Immersion Technologies stock opened at $22.34 on Thursday. BitMine Immersion Technologies, Inc. has a one year low of $3.20 and a one year high of $161.00. The business has a 50-day simple moving average of $20.44 and a 200-day simple moving average of $31.51.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR - Get Free Report) last announced 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 company had revenue of $2.29 million for the quarter.

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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