Caitong International Asset Management Co. Ltd Makes New $8.43 Million Investment in BitMine Immersion Technologies, Inc. $BMNR

Caitong International Asset Management Co. Ltd purchased a new stake in BitMine Immersion Technologies, Inc. (NYSE:BMNR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 310,651 shares of the company’s stock, valued at approximately $8,434,000. BitMine Immersion Technologies accounts for about 2.1% of Caitong International Asset Management Co. Ltd’s investment portfolio, making the stock its 10th largest holding.

A number of other institutional investors have also added to or reduced their stakes in the business. Morgan Stanley grew its position in BitMine Immersion Technologies by 25.8% during the fourth quarter. Morgan Stanley now owns 12,197,071 shares of the company’s stock valued at $331,151,000 after acquiring an additional 2,500,368 shares during the last quarter. Marex Group plc boosted its stake in shares of BitMine Immersion Technologies by 560.1% in the 4th quarter. Marex Group plc now owns 10,024,103 shares of the company’s stock valued at $272,154,000 after purchasing an additional 8,505,421 shares in the last quarter. ARK Investment Management LLC boosted its stake in shares of BitMine Immersion Technologies by 26.6% in the 4th quarter. ARK Investment Management LLC now owns 9,457,330 shares of the company’s stock valued at $256,767,000 after purchasing an additional 1,987,517 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of BitMine Immersion Technologies by 29.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,916,195 shares of the company’s stock valued at $133,475,000 after purchasing an additional 1,131,556 shares during the last quarter. Finally, Amova Asset Management Americas Inc. grew its holdings in shares of BitMine Immersion Technologies by 29.9% during the 4th quarter. Amova Asset Management Americas Inc. now owns 4,911,524 shares of the company’s stock valued at $133,397,000 after purchasing an additional 1,129,706 shares during the last quarter.

BitMine Immersion Technologies Stock Up 0.2%

NYSE:BMNR opened at $16.17 on Friday. The company has a fifty day moving average of $19.77 and a 200 day moving average of $23.51. BitMine Immersion Technologies, Inc. has a 52 week low of $3.92 and a 52 week high of $161.00. The firm has a market capitalization of $9.21 billion and a P/E ratio of -124.37.

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

Wall Street Analyst Weigh In

BMNR has been the subject of several recent research reports. Cantor Fitzgerald raised shares of BitMine Immersion Technologies to a “strong-buy” rating in a research note on Thursday, April 9th. Weiss Ratings initiated coverage on BitMine Immersion Technologies in a research note on Friday, April 17th. They set a “sell (d-)” rating on the stock. Finally, B. Riley Financial decreased their price objective on BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Two investment 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. Based on data from MarketBeat.com, BitMine Immersion Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

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.