Entropy Technologies LP Invests $1.91 Million in BitMine Immersion Technologies, Inc. $BMNR

Entropy Technologies LP purchased a new stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) in the first quarter, HoldingsChannel.com reports. The firm purchased 96,341 shares of the company’s stock, valued at approximately $1,906,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Pilgrim Partners Asia Pte Ltd purchased a new position in BitMine Immersion Technologies in the 4th quarter valued at about $27,000. Ankerstar Wealth LLC purchased a new stake in shares of BitMine Immersion Technologies during the fourth quarter worth about $27,000. Lodestone Wealth Management LLC acquired a new position in shares of BitMine Immersion Technologies in the fourth quarter worth about $30,000. Trust Co. of Vermont lifted its stake in shares of BitMine Immersion Technologies by 424.4% in the fourth quarter. Trust Co. of Vermont now owns 1,180 shares of the company’s stock worth $32,000 after acquiring an additional 955 shares in the last quarter. Finally, Banque Cantonale Vaudoise boosted its holdings in 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BMNR shares. Weiss Ratings restated a “sell (d-)” rating on shares of BitMine Immersion Technologies in a research note on Wednesday, July 15th. B. Riley Financial reduced their target price on BitMine Immersion Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Finally, Cantor Fitzgerald decreased their price target on shares of BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, BitMine Immersion Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $27.65.

BitMine Immersion Technologies Stock Up 0.2%

Shares of NYSE:BMNR opened at $15.82 on Monday. The company has a market cap of $9.54 billion and a PE ratio of 316.44. BitMine Immersion Technologies, Inc. has a fifty-two week low of $12.80 and a fifty-two week high of $71.74. The firm has a 50-day simple moving average of $16.39 and a 200 day simple moving average of $20.51.

BitMine Immersion Technologies (NYSE:BMNR) last issued its earnings results on Tuesday, July 14th. The company reported ($128.25) earnings per share (EPS) for the quarter. BitMine Immersion Technologies had a positive return on equity of 3.35% and a negative net margin of 14,306.56%.The business had revenue of $46.53 million during the quarter. As a group, research analysts forecast that BitMine Immersion Technologies, Inc. will post 0.06 EPS for the current fiscal year.

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.