Sapient Capital LLC Buys New Shares in BitMine Immersion Technologies, Inc. $BMNR

Sapient Capital LLC bought a new position in shares of BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) in the third quarter, Holdings Channel reports. The fund bought 21,480 shares of the company’s stock, valued at approximately $1,143,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. acquired a new stake in shares of BitMine Immersion Technologies during the 3rd quarter valued at $30,000. Rise Advisors LLC acquired a new stake in shares of BitMine Immersion Technologies during the third quarter worth $55,000. HBK Sorce Advisory LLC purchased a new stake in shares of BitMine Immersion Technologies during the third quarter valued at $176,000. CWM LLC acquired a new position in shares of BitMine Immersion Technologies in the 3rd quarter valued at $199,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in shares of BitMine Immersion Technologies in the 3rd quarter valued at $233,000.

BitMine Immersion Technologies Stock Down 3.5%

NYSEAMERICAN:BMNR opened at $28.31 on Monday. The firm has a market capitalization of $12.06 billion and a price-to-earnings ratio of -64.34. BitMine Immersion Technologies, Inc. has a 1-year low of $3.20 and a 1-year high of $161.00. The company’s fifty day simple moving average is $36.96.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last announced its quarterly earnings data on Friday, November 21st. The company reported $15.90 EPS for the quarter. BitMine Immersion Technologies had a return on equity of 16.02% and a net margin of 5,719.06%.The firm had revenue of $1.32 million during the quarter.

BitMine Immersion Technologies Dividend Announcement

The business also recently declared 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. This represents a dividend yield of 3.0%. The ex-dividend date is Monday, December 8th.

Analyst Ratings Changes

BMNR has been the topic of several recent analyst reports. Zacks Research upgraded BitMine Immersion Technologies to a “hold” rating in a report on Friday, October 17th. B. Riley dropped their target price on shares of BitMine Immersion Technologies from $90.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. One investment 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. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $47.00.

About BitMine Immersion Technologies

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.