Vanguard Group Inc. Acquires 1,880,793 Shares of BitMine Immersion Technologies, Inc. $BMNR

Vanguard Group Inc. grew its holdings in BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 65.7% in the fourth quarter, HoldingsChannel reports. The fund owned 4,742,559 shares of the company’s stock after buying an additional 1,880,793 shares during the period. Vanguard Group Inc.’s holdings in BitMine Immersion Technologies were worth $128,760,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of BMNR. CNB Bank bought a new position in BitMine Immersion Technologies during the third quarter worth about $26,000. Strategic Advocates LLC bought a new stake in BitMine Immersion Technologies in the 3rd quarter valued at about $27,000. Guerra Advisors Inc acquired a new position in shares of BitMine Immersion Technologies during the 3rd quarter worth approximately $31,000. Wellington Shields Capital Management LLC acquired a new position in shares of BitMine Immersion Technologies during the 3rd quarter worth approximately $31,000. Finally, Aspect Partners LLC bought a new position in shares of BitMine Immersion Technologies during the third quarter worth approximately $35,000.

BitMine Immersion Technologies Stock Up 3.9%

BMNR stock opened at $23.03 on Tuesday. The company’s 50-day moving average price is $21.12 and its two-hundred day moving average price is $27.65. The firm has a market cap of $13.11 billion and a P/E ratio of -177.12. BitMine Immersion Technologies, Inc. has a 12 month low of $3.20 and a 12 month high of $161.00.

BitMine Immersion Technologies (NYSE:BMNR) last posted 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 for the quarter. BitMine Immersion Technologies had a positive return on equity of 5.59% and a negative net margin of 51,892.77%. Equities analysts predict that BitMine Immersion Technologies, Inc. will post 0.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. B. Riley Financial dropped their price target on shares of 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. Finally, Weiss Ratings began coverage on BitMine Immersion Technologies in a research report on Friday, April 17th. They set a “sell (d-)” rating for the company. Two equities research 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 assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

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.