Amova Asset Management Americas Inc. Acquires 1,129,706 Shares of BitMine Immersion Technologies, Inc. $BMNR

Amova Asset Management Americas Inc. grew its position in BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 29.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,911,524 shares of the company’s stock after buying an additional 1,129,706 shares during the period. BitMine Immersion Technologies makes up 1.5% of Amova Asset Management Americas Inc.’s investment portfolio, making the stock its 18th largest holding. Amova Asset Management Americas Inc.’s holdings in BitMine Immersion Technologies were worth $133,397,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BMNR. ARK Investment Management LLC bought a new stake in shares of BitMine Immersion Technologies in the 3rd quarter worth approximately $387,907,000. Vanguard Group Inc. acquired a new position in shares of BitMine Immersion Technologies in the 3rd quarter worth approximately $148,612,000. Pantera Capital Partners LP acquired a new position in shares of BitMine Immersion Technologies in the 3rd quarter worth approximately $122,036,000. JPMorgan Chase & Co. acquired a new position in shares of BitMine Immersion Technologies in the 3rd quarter worth approximately $102,517,000. Finally, Van ECK Associates Corp acquired a new position in shares of BitMine Immersion Technologies in the 3rd quarter worth approximately $81,846,000.

BitMine Immersion Technologies Stock Performance

NYSE BMNR opened at $16.14 on Wednesday. The stock has a fifty day moving average of $20.36 and a 200-day moving average of $24.23. The stock has a market capitalization of $9.19 billion and a P/E ratio of -124.16. BitMine Immersion Technologies, Inc. has a 52 week low of $3.92 and a 52 week high of $161.00.

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

Wall Street Analyst Weigh In

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

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.