SG Americas Securities LLC Has $9.80 Million Stake in BitMine Immersion Technologies, Inc. $BMNR

SG Americas Securities LLC raised its holdings in BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 90.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 495,356 shares of the company’s stock after purchasing an additional 234,934 shares during the quarter. SG Americas Securities LLC owned approximately 0.11% of BitMine Immersion Technologies worth $9,798,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Strong Tower Advisory Services increased its stake in shares of BitMine Immersion Technologies by 11.5% in the first quarter. Strong Tower Advisory Services now owns 561,699 shares of the company’s stock valued at $11,110,000 after buying an additional 57,803 shares in the last quarter. ARS Investment Partners LLC acquired a new position in BitMine Immersion Technologies during the 1st quarter worth about $266,000. J. Derek Lewis & Associates Inc. bought a new stake in BitMine Immersion Technologies during the 4th quarter worth about $1,096,000. World Investment Advisors grew its holdings in BitMine Immersion Technologies by 91.7% during the 4th quarter. World Investment Advisors now owns 12,975 shares of the company’s stock worth $352,000 after acquiring an additional 6,206 shares during the last quarter. Finally, ARP Global Capital Ltd acquired a new stake in BitMine Immersion Technologies in the 4th quarter valued at about $3,429,000.

BitMine Immersion Technologies Price Performance

Shares of NYSE:BMNR opened at $13.57 on Friday. The stock has a market cap of $7.73 billion and a price-to-earnings ratio of -104.37. The company has a 50 day moving average of $19.05 and a 200-day moving average of $22.86. BitMine Immersion Technologies, Inc. has a one year low of $4.07 and a one year high of $161.00.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on BMNR. Weiss Ratings started coverage on shares of BitMine Immersion Technologies in a research note on Friday, April 17th. They issued a “sell (d-)” rating for the company. Cantor Fitzgerald raised shares of BitMine Immersion Technologies to a “strong-buy” rating in a research note on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, BitMine Immersion Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target 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.