51,863 Shares in BitMine Immersion Technologies, Inc. $BMNR Purchased by Diversify Wealth Management LLC

Diversify Wealth Management LLC bought a new stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 51,863 shares of the company’s stock, valued at approximately $1,071,000.

A number of other large investors also recently added to or reduced their stakes in BMNR. Citizens Financial Group Inc. RI purchased a new stake in BitMine Immersion Technologies during the 1st quarter valued at approximately $638,000. Fifth Third Bancorp lifted its holdings in shares of BitMine Immersion Technologies by 78.8% in the first quarter. Fifth Third Bancorp now owns 5,461 shares of the company’s stock worth $108,000 after buying an additional 2,406 shares in the last quarter. Sovran Advisors LLC boosted its position in shares of BitMine Immersion Technologies by 26.9% during the first quarter. Sovran Advisors LLC now owns 252,630 shares of the company’s stock worth $5,406,000 after acquiring an additional 53,608 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in BitMine Immersion Technologies by 23.6% during the first quarter. Sequoia Financial Advisors LLC now owns 10,684 shares of the company’s stock valued at $211,000 after acquiring an additional 2,039 shares in the last quarter. Finally, Graetz Wealth LLC grew its stake in BitMine Immersion Technologies by 70.2% during the first quarter. Graetz Wealth LLC now owns 17,643 shares of the company’s stock valued at $349,000 after acquiring an additional 7,280 shares in the last quarter.

BitMine Immersion Technologies Stock Performance

Shares of BitMine Immersion Technologies stock opened at $15.81 on Thursday. The stock has a market cap of $9.01 billion and a price-to-earnings ratio of -121.65. The stock has a 50 day moving average price of $17.13 and a 200-day moving average price of $21.14. BitMine Immersion Technologies, Inc. has a one year low of $12.80 and a one year high of $71.74.

BitMine Immersion Technologies (NYSE:BMNR) last released its quarterly earnings results on Tuesday, July 14th. The company reported ($128.25) earnings per share for the quarter. BitMine Immersion Technologies had a negative net margin of 14,306.56% and a positive return on equity of 3.49%. Sell-side analysts predict that BitMine Immersion Technologies, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BMNR shares. Cantor Fitzgerald reduced their target price on BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Weiss Ratings assumed coverage on BitMine Immersion Technologies in a report on Friday, April 17th. They set a “sell (d-)” rating for the company. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.15.

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.