BI Asset Management Fondsmaeglerselskab A S Buys Shares of 167,075 BitMine Immersion Technologies, Inc. $BMNR

BI Asset Management Fondsmaeglerselskab A S bought a new stake in BitMine Immersion Technologies, Inc. (NYSE:BMNR) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 167,075 shares of the company’s stock, valued at approximately $4,538,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BMNR. ARK Investment Management LLC purchased a new position in shares of BitMine Immersion Technologies in the third quarter valued at $387,907,000. Amova Asset Management Americas Inc. purchased a new position in shares of BitMine Immersion Technologies in the third quarter valued at $196,503,000. Vanguard Group Inc. purchased a new position in shares of BitMine Immersion Technologies in the third quarter valued at $148,612,000. Pantera Capital Partners LP purchased a new position in shares of BitMine Immersion Technologies in the third quarter valued at $122,036,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of BitMine Immersion Technologies in the third quarter valued at $102,517,000.

Analyst Ratings Changes

BMNR has been the subject of a number of research analyst reports. Cantor Fitzgerald upgraded BitMine Immersion Technologies to a “strong-buy” rating in a research report on Thursday, April 9th. Weiss Ratings initiated coverage on BitMine Immersion Technologies in a research report on Friday, April 17th. They issued a “sell (d-)” rating for the company. Finally, B. Riley Financial dropped their price target on BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.50.

BitMine Immersion Technologies Price Performance

BMNR opened at $15.94 on Monday. The stock has a market capitalization of $9.08 billion and a price-to-earnings ratio of -122.58. The business has a 50-day moving average of $20.46 and a two-hundred day moving average of $24.43. BitMine Immersion Technologies, Inc. has a 12 month low of $3.92 and a 12 month high of $161.00.

BitMine Immersion Technologies (NYSE:BMNR) last posted its quarterly earnings results on Tuesday, April 14th. The company reported ($0.08) EPS for the quarter. The business had revenue of $11.04 million during the quarter. BitMine Immersion Technologies had a negative net margin of 51,892.77% and a positive return on equity of 5.59%. Equities research analysts anticipate that BitMine Immersion Technologies, Inc. will post 0.29 earnings per share for the current year.

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.