BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) Short Interest Up 75.1% in March

BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totaling 36,705,677 shares, a growth of 75.1% from the March 15th total of 20,964,276 shares. Currently, 8.1% of the company’s stock are sold short. Based on an average daily volume of 52,061,751 shares, the short-interest ratio is currently 0.7 days.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. B. Riley Financial lowered their price target on BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Cantor Fitzgerald upgraded BitMine Immersion Technologies to a “strong-buy” rating in a research note on Thursday, April 9th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $34.50.

Institutional Investors Weigh In On BitMine Immersion Technologies

Several large investors have recently made changes to their positions in BMNR. Marex Group plc purchased a new stake in shares of BitMine Immersion Technologies during the 2nd quarter valued at $465,000. Sanders Morris Harris LLC purchased a new stake in shares of BitMine Immersion Technologies during the 3rd quarter valued at $312,000. Quintet Private Bank Europe S.A. purchased a new stake in BitMine Immersion Technologies in the 3rd quarter worth about $30,000. Rise Advisors LLC purchased a new stake in BitMine Immersion Technologies in the 3rd quarter worth about $55,000. Finally, Teamwork Financial Advisors LLC purchased a new stake in BitMine Immersion Technologies in the 3rd quarter worth about $529,000.

BitMine Immersion Technologies Stock Performance

Shares of NYSEAMERICAN:BMNR opened at $21.48 on Wednesday. The stock’s fifty day simple moving average is $20.40 and its two-hundred day simple moving average is $31.57. BitMine Immersion Technologies has a 1-year low of $3.20 and a 1-year high of $161.00.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last issued its quarterly earnings data on Tuesday, January 13th. The company reported ($0.05) earnings per share for the quarter. BitMine Immersion Technologies had a negative net margin of 67,546.19% and a positive return on equity of 7.89%. The company had revenue of $2.29 million for the quarter.

About BitMine Immersion Technologies

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.