Strong Tower Advisory Services Acquires 57,803 Shares of BitMine Immersion Technologies, Inc. $BMNR

Strong Tower Advisory Services increased its stake in BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 11.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 561,699 shares of the company’s stock after acquiring an additional 57,803 shares during the period. BitMine Immersion Technologies makes up approximately 2.1% of Strong Tower Advisory Services’ investment portfolio, making the stock its 17th biggest position. Strong Tower Advisory Services owned 0.12% of BitMine Immersion Technologies worth $11,110,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Strategic Advocates LLC bought a new stake in shares of BitMine Immersion Technologies in the 3rd quarter valued at approximately $27,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of BitMine Immersion Technologies during the 4th quarter valued at approximately $27,000. Ankerstar Wealth LLC bought a new position in shares of BitMine Immersion Technologies during the 4th quarter valued at approximately $27,000. Lodestone Wealth Management LLC purchased a new stake in BitMine Immersion Technologies during the 4th quarter valued at $30,000. Finally, Trust Co. of Vermont raised its holdings in BitMine Immersion Technologies by 424.4% during the 4th quarter. Trust Co. of Vermont now owns 1,180 shares of the company’s stock valued at $32,000 after buying an additional 955 shares during the period.

Analysts Set New Price Targets

Several research firms have commented on BMNR. B. Riley Financial dropped their price objective on shares of BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Weiss Ratings began coverage on shares of BitMine Immersion Technologies in a research note on Friday, April 17th. They issued a “sell (d-)” rating on the stock. Finally, Cantor Fitzgerald raised shares of BitMine Immersion Technologies to a “strong-buy” rating in a research note on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

BitMine Immersion Technologies Stock Up 0.2%

Shares of BitMine Immersion Technologies stock opened at $16.17 on Monday. The stock’s fifty day moving average is $19.77 and its two-hundred day moving average is $23.47. BitMine Immersion Technologies, Inc. has a 52 week low of $3.92 and a 52 week high of $161.00. The company has a market capitalization of $9.21 billion and a PE ratio of -124.37.

BitMine Immersion Technologies (NYSE:BMNR) last issued its earnings results on Tuesday, April 14th. The company reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $11.04 million for the quarter. BitMine Immersion Technologies had a negative net margin of 51,892.77% and a positive return on equity of 5.59%. As a group, 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.