WINTON GROUP Ltd Acquires 294,606 Shares of BitMine Immersion Technologies, Inc. $BMNR

Key Points

• WINTON GROUP Ltd increased its BitMine Immersion Technologies stake by 252.9% in the second quarter, acquiring 294,606 additional shares and bringing its total holdings to 411,110 shares valued at approximately $5.47 million.
• BMNR shares opened at $24.26, with a market capitalization of $14.63 billion and a wide 52-week range of $12.80 to $65.60. The company reported a quarterly loss of $128.25 per share on $46.53 million in revenue.
• Analyst sentiment is mixed: Cantor Fitzgerald raised its price target to $63.60, while B. Riley set a $30 target and several firms maintained sell ratings. The stock has a consensus “Hold” rating and an average price target of $46.80.

WINTON GROUP Ltd grew its stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR - Free Report) by 252.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 411,110 shares of the company's stock after acquiring an additional 294,606 shares during the period. WINTON GROUP Ltd owned 0.07% of BitMine Immersion Technologies worth $5,472,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Weiss Asset Management LP grew its holdings in BitMine Immersion Technologies by 363.6% during the 1st quarter. Weiss Asset Management LP now owns 4,328,294 shares of the company's stock valued at $85,614,000 after buying an additional 3,394,677 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of BitMine Immersion Technologies during the first quarter valued at about $1,906,000. Dimensional Fund Advisors LP purchased a new stake in shares of BitMine Immersion Technologies in the first quarter worth about $4,275,000. The Manufacturers Life Insurance Company lifted its holdings in shares of BitMine Immersion Technologies by 612.7% in the first quarter. The Manufacturers Life Insurance Company now owns 132,063 shares of the company's stock worth $2,612,000 after buying an additional 113,532 shares in the last quarter. Finally, Independent Financial Group LLC bought a new position in shares of BitMine Immersion Technologies in the first quarter valued at approximately $3,655,000.

BitMine Immersion Technologies Price Performance

Shares of BMNR opened at $24.26 on Friday. BitMine Immersion Technologies, Inc. has a 1-year low of $12.80 and a 1-year high of $65.60. The company has a market capitalization of $14.63 billion, a P/E ratio of 485.14 and a beta of 1.61. The firm's 50 day simple moving average is $19.34 and its 200 day simple moving average is $19.41.

BitMine Immersion Technologies (NYSE:BMNR - Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The company reported ($128.25) EPS for the quarter. The company 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%. On average, equities analysts anticipate that BitMine Immersion Technologies, Inc. will post 0.06 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on BMNR. Cantor Fitzgerald boosted their price objective on shares of BitMine Immersion Technologies from $30.60 to $63.60 and gave the company an "overweight" rating in a research note on Thursday. Wall Street Zen cut shares of BitMine Immersion Technologies from a "sell" rating to a "strong sell" rating in a research note on Tuesday. Weiss Ratings reissued a "sell (d-)" rating on shares of BitMine Immersion Technologies in a report on Wednesday, July 15th. B Riley restated a "buy" rating on shares of BitMine Immersion Technologies in a research report on Thursday, September 3rd. Finally, B. Riley Financial upped their price target on shares of BitMine Immersion Technologies from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, September 3rd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $46.80.

BitMine Immersion Technologies Company Profile

BitMine Immersion Technologies, Inc is a digital asset and blockchain technology company focused on cryptocurrency mining and digital asset infrastructure. Its historical operations have centered on Bitcoin mining, using immersion-cooling technology to manage the heat generated by high-performance computing equipment and support more efficient mining operations.

The company has since expanded its strategy to include digital asset treasury activities, with an emphasis on acquiring and holding Ethereum.

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