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

Key Points

• Thames Capital Management bought 228,531 shares of BitMine Immersion Technologies (~$11.87 million) in Q3, making the stake about 1.7% of Thames' portfolio and its 27th-largest holding (Thames owns roughly 0.08% of BitMine).
• Wall Street coverage is mixed but constructive: B. Riley cut its target to $47 (still a buy), Cantor Fitzgerald initiated coverage with an "overweight" and $39 target, and the consensus analyst target is about $43 with an average rating of Buy.
• Fundamentals and trading are volatile — BitMine reported EPS of ($12.74) on $2.29M revenue with an extremely negative net margin, the stock has a 1‑year range of $3.20–$161 and was trading near $30.87 (down 5.5%), and the company paid a $0.01 annual dividend (~3% yield); BitMine provides immersion-cooling solutions for digital-asset mining and HPC.

Thames Capital Management LLC purchased a new stake in BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 228,531 shares of the company's stock, valued at approximately $11,868,000. BitMine Immersion Technologies makes up about 1.7% of Thames Capital Management LLC's portfolio, making the stock its 27th largest position. Thames Capital Management LLC owned about 0.08% of BitMine Immersion Technologies as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BMNR. Quintet Private Bank Europe S.A. acquired a new position in shares of BitMine Immersion Technologies in the 3rd quarter valued at $30,000. HM Payson & Co. bought a new stake in shares of BitMine Immersion Technologies in the 3rd quarter valued at approximately $35,000. Rise Advisors LLC acquired a new position in shares of BitMine Immersion Technologies in the 3rd quarter worth approximately $55,000. Bogart Wealth LLC acquired a new position in shares of BitMine Immersion Technologies in the 3rd quarter worth approximately $80,000. Finally, City Holding Co. bought a new position in shares of BitMine Immersion Technologies during the 3rd quarter worth approximately $93,000.

Wall Street Analyst Weigh In

Several research firms have issued reports on BMNR. B. Riley dropped their price objective on BitMine Immersion Technologies from $90.00 to $47.00 and set a "buy" rating for the company in a research note on Thursday, November 20th. Cantor Fitzgerald initiated coverage on shares of BitMine Immersion Technologies in a research report on Monday, January 5th. They set an "overweight" rating and a $39.00 target price for the company. Finally, Zacks Research raised shares of BitMine Immersion Technologies to a "hold" rating in a report on Friday, October 17th. 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 company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $43.00.

BitMine Immersion Technologies Trading Down 5.5%

Shares of BMNR stock opened at $30.87 on Friday. The firm's fifty day simple moving average is $32.23. BitMine Immersion Technologies, Inc. has a 1 year low of $3.20 and a 1 year high of $161.00.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR - Get Free Report) last issued its earnings results on Tuesday, January 13th. The company reported ($12.74) EPS for the quarter. The company had revenue of $2.29 million during the quarter. BitMine Immersion Technologies had a positive return on equity of 7.89% and a negative net margin of 67,546.19%.

BitMine Immersion Technologies Announces Dividend

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

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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