BitMine Immersion Technologies, Inc. $BMNR Shares Sold by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV reduced its stake in BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 32.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,375 shares of the company’s stock after selling 34,079 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in BitMine Immersion Technologies were worth $1,432,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BMNR. Marex Group plc raised its stake in 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 during the last quarter. ARK Investment Management LLC purchased a new stake in shares of BitMine Immersion Technologies during the third quarter worth about $387,907,000. Amova Asset Management Americas Inc. purchased a new stake in shares of BitMine Immersion Technologies during the third quarter worth about $196,503,000. Mozayyx Management LLC acquired a new position in shares of BitMine Immersion Technologies in the fourth quarter valued at approximately $90,500,000. Finally, Vanguard Group Inc. acquired a new position in shares of BitMine Immersion Technologies in the third quarter valued at approximately $148,612,000.

Analyst Upgrades and Downgrades

BMNR has been the topic of a number of analyst reports. B. Riley Financial decreased their target price on shares of BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Cantor Fitzgerald upgraded BitMine Immersion Technologies to a “strong-buy” rating in a report on Thursday, April 9th. Finally, Weiss Ratings assumed coverage on BitMine Immersion Technologies in a research note on Friday, April 17th. They set 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.50.

BitMine Immersion Technologies Stock Down 1.9%

BMNR stock opened at $15.84 on Tuesday. The company has a market cap of $9.02 billion and a price-to-earnings ratio of -121.81. The business has a fifty day simple moving average of $19.67 and a 200-day simple moving average of $23.36. BitMine Immersion Technologies, Inc. has a 52 week low of $3.92 and a 52 week high of $161.00.

BitMine Immersion Technologies (NYSE:BMNR) last issued its earnings results 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 firm had revenue of $11.04 million during the quarter. As a group, analysts expect that BitMine Immersion Technologies, Inc. will post 0.29 earnings per share for the current fiscal year.

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.