Lori Love Purchases 474 Shares of BitMine Immersion Technologies (NYSEAMERICAN:BMNR) Stock

Key Points

• Director Lori Love purchased 474 shares of BitMine Immersion Technologies on April 16 at $22.05 (total $10,451.70) and an additional 227 shares on April 20 at $22.01, bringing her stake to 36,556 shares (a 1.31% increase) valued at about $806,060.
• Stock context and volatility: BMNR traded at $22.53 (down $0.42) with heavy volume, a 12‑month range of $3.20 to $161.00, and 50‑/200‑day moving averages of $20.61 and $30.70, respectively.
• Analyst and institutional interest: Cantor Fitzgerald upgraded to a "strong‑buy" while B. Riley cut its target to $30; the consensus is a "Buy" with an average target of $34.50, and several funds (notably Aurora and Ritholtz) materially increased their holdings.

BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR - Get Free Report) Director Lori Love bought 474 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were purchased at an average price of $22.05 per share, for a total transaction of $10,451.70. Following the completion of the acquisition, the director owned 36,556 shares of the company's stock, valued at $806,059.80. The trade was a 1.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Lori Love also recently made the following trade(s):

• On Monday, April 20th, Lori Love bought 227 shares of BitMine Immersion Technologies stock. The shares were purchased at an average price of $22.01 per share, for a total transaction of $4,996.27.

BitMine Immersion Technologies Price Performance

BMNR traded down $0.42 during trading on Monday, reaching $22.53. 37,495,521 shares of the stock were exchanged, compared to its average volume of 45,535,625. BitMine Immersion Technologies, Inc. has a twelve month low of $3.20 and a twelve month high of $161.00. The stock's 50 day moving average price is $20.61 and its two-hundred day moving average price is $30.70.

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 firm had revenue of $2.29 million for the quarter. BitMine Immersion Technologies had a positive return on equity of 7.89% and a negative net margin of 67,546.19%.

Hedge Funds Weigh In On BitMine Immersion Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ritholtz Wealth Management increased its holdings in shares of BitMine Immersion Technologies by 93.5% in the first quarter. Ritholtz Wealth Management now owns 20,535 shares of the company's stock valued at $406,000 after purchasing an additional 9,920 shares during the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of BitMine Immersion Technologies by 72.3% in the first quarter. Banque Cantonale Vaudoise now owns 1,859 shares of the company's stock valued at $37,000 after purchasing an additional 780 shares during the last quarter. Aurora Investment Managers LLC. increased its holdings in shares of BitMine Immersion Technologies by 196.7% in the first quarter. Aurora Investment Managers LLC. now owns 372,782 shares of the company's stock valued at $7,374,000 after purchasing an additional 247,146 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in shares of BitMine Immersion Technologies by 638.2% in the first quarter. AdvisorNet Financial Inc now owns 11,767 shares of the company's stock valued at $233,000 after purchasing an additional 10,173 shares during the last quarter. Finally, Lee Johnson Capital Management LLC increased its holdings in shares of BitMine Immersion Technologies by 40.2% in the first quarter. Lee Johnson Capital Management LLC now owns 91,915 shares of the company's stock valued at $1,818,000 after purchasing an additional 26,363 shares during the last quarter.

Wall Street Analysts Forecast Growth

BMNR has been the topic of a number of recent analyst reports. Cantor Fitzgerald upgraded shares of BitMine Immersion Technologies to a "strong-buy" rating in a report on Thursday, April 9th. B. Riley Financial lowered their target price 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. Two investment 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. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $34.50.

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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