Voya Investment Management LLC Acquires Shares of 44,813 BitMine Immersion Technologies, Inc. $BMNR

Key Points

• Voya Investment Management LLC bought a new position of 44,813 shares of BitMine Immersion Technologies in Q3, valued at approximately $2,327,000, according to an SEC filing.
• Institutional interest appears to be rising with several other new stakes reported, notably Halter Ferguson Financial (~$11.318 million), Sassicaia Capital ($1.57 million) and smaller positions from SEB, Marex and XTX Topco.
• BMNR trades with a wide 12‑month range ($3.20–$161.00) and a negative P/E (-64.34), has a market cap of about $12.06 billion, recently announced a $0.01 annual dividend (3.0% yield; ex‑dividend Dec 8, payable Dec 29), and carries an average analyst rating of Buy with a consensus target of $47 (B. Riley cut its target from $90 to $47).

Voya Investment Management LLC bought a new position in shares of BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 44,813 shares of the company's stock, valued at approximately $2,327,000.

Other hedge funds have also modified their holdings of the company. Halter Ferguson Financial Inc. bought a new position in BitMine Immersion Technologies in the 3rd quarter worth approximately $11,318,000. Sassicaia Capital Advisers LLC acquired a new stake in shares of BitMine Immersion Technologies in the 2nd quarter valued at $1,570,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of BitMine Immersion Technologies during the second quarter worth $508,000. Marex Group plc acquired a new position in shares of BitMine Immersion Technologies during the second quarter valued at $465,000. Finally, XTX Topco Ltd bought a new position in BitMine Immersion Technologies in the second quarter valued at about $374,000.

BitMine Immersion Technologies Stock Down 3.5%

NYSEAMERICAN BMNR opened at $28.31 on Friday. BitMine Immersion Technologies, Inc. has a 12 month low of $3.20 and a 12 month high of $161.00. The firm has a 50-day moving average of $36.96. The company has a market capitalization of $12.06 billion and a P/E ratio of -64.34.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR - Get Free Report) last issued its earnings results on Friday, November 21st. The company reported $15.90 earnings per share (EPS) for the quarter. The firm had revenue of $1.32 million for the quarter. BitMine Immersion Technologies had a return on equity of 16.02% and a net margin of 5,719.06%.

BitMine Immersion Technologies Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 8th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, December 8th. This represents a yield of 3.0%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in 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 report on Thursday, November 20th. Zacks Research upgraded shares of BitMine Immersion Technologies to a "hold" rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $47.00.

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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