WCG Wealth Advisors LLC Makes New Investment in BitMine Immersion Technologies, Inc. $BMNR

WCG Wealth Advisors LLC purchased a new position in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 86,679 shares of the company’s stock, valued at approximately $2,353,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. ARK Investment Management LLC bought a new position in shares of BitMine Immersion Technologies during the third quarter worth about $387,907,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in 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 worth $133,475,000 after buying an additional 1,131,556 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of BitMine Immersion Technologies by 65.7% in the 4th quarter. Vanguard Group Inc. now owns 4,742,559 shares of the company’s stock valued at $128,760,000 after acquiring an additional 1,880,793 shares during the last quarter. Amova Asset Management Americas Inc. acquired a new stake in shares of BitMine Immersion Technologies during the 3rd quarter valued at approximately $196,503,000. Finally, Geode Capital Management LLC lifted its stake in BitMine Immersion Technologies by 65.3% during the fourth quarter. Geode Capital Management LLC now owns 3,384,840 shares of the company’s stock worth $91,940,000 after purchasing an additional 1,336,706 shares during the last quarter.

BitMine Immersion Technologies Stock Up 6.0%

BitMine Immersion Technologies stock opened at $17.91 on Friday. 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 $10.20 billion and a price-to-earnings ratio of -137.74. The firm has a 50-day moving average price of $20.56 and a two-hundred day moving average price of $24.54.

BitMine Immersion Technologies (NYSE:BMNR) last issued its quarterly earnings data on Tuesday, April 14th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business 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%. Research analysts expect that BitMine Immersion Technologies, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. B. Riley Financial lowered their target price on shares of BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Cantor Fitzgerald raised shares of BitMine Immersion Technologies to a “strong-buy” rating in a research report on Thursday, April 9th. Finally, Weiss Ratings initiated coverage on shares of BitMine Immersion Technologies in a report on Friday, April 17th. They issued a “sell (d-)” rating on the stock. Two 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 assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.