Sumitomo Mitsui Trust Group Inc. Has $133.48 Million Position in BitMine Immersion Technologies, Inc. $BMNR

Key Points

• Sumitomo Mitsui Trust increased its stake in BitMine Immersion Technologies by 29.9% to 4,916,195 shares, representing about $133.48 million or roughly 1.08% ownership at the end of the quarter.
• Wall Street sentiment is mixed but skewed positive, with an average rating of "Buy" and an average target price of $34.50; notable notes include B. Riley cutting its target to $30 (still a Buy) and Cantor Fitzgerald issuing a Strong-Buy.
• Shares trade around $21.51 (50‑day MA $20.41, 200‑day MA $31.78) after a volatile 52‑week range of $3.20–$161.00, and the company reported Q4 EPS of ($0.05) on $2.29 million revenue with an extremely negative net margin, indicating uneven financial performance.

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR - Free Report) by 29.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,916,195 shares of the company's stock after buying an additional 1,131,556 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 1.08% of BitMine Immersion Technologies worth $133,475,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BMNR. CNB Bank acquired a new stake in BitMine Immersion Technologies during the third quarter worth approximately $26,000. Strategic Advocates LLC acquired a new stake in BitMine Immersion Technologies during the third quarter worth approximately $27,000. Quintet Private Bank Europe S.A. acquired a new stake in BitMine Immersion Technologies during the third quarter worth approximately $30,000. Lodestone Wealth Management LLC acquired a new stake in BitMine Immersion Technologies during the fourth quarter worth approximately $30,000. Finally, Guerra Advisors Inc acquired a new stake in BitMine Immersion Technologies during the third quarter worth approximately $31,000.

Wall Street Analyst Weigh In

BMNR has been the topic of a number of analyst reports. B. Riley Financial reduced their price target on BitMine Immersion Technologies from $47.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday, February 23rd. Cantor Fitzgerald raised BitMine Immersion Technologies to a "strong-buy" rating in a research report on Thursday, April 9th. Two research 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's stock. Based on data from MarketBeat, BitMine Immersion Technologies has an average rating of "Buy" and an average target price of $34.50.

BitMine Immersion Technologies Stock Up 1.1%

Shares of BMNR stock opened at $21.51 on Tuesday. The stock's fifty day moving average price is $20.41 and its two-hundred day moving average price is $31.78. BitMine Immersion Technologies, Inc. has a fifty-two week low of $3.20 and a fifty-two week high of $161.00.

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

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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