BitMine Immersion Technologies, Inc. $BMNR Stock Position Boosted by J. Derek Lewis & Associates Inc.

J. Derek Lewis & Associates Inc. raised its stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 117.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,783 shares of the company’s stock after buying an additional 47,402 shares during the period. J. Derek Lewis & Associates Inc.’s holdings in BitMine Immersion Technologies were worth $1,736,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BMNR. Milestone Asset Management LLC lifted its stake in shares of BitMine Immersion Technologies by 5.6% in the 4th quarter. Milestone Asset Management LLC now owns 8,185 shares of the company’s stock worth $222,000 after acquiring an additional 432 shares during the period. Certuity LLC increased its stake in shares of BitMine Immersion Technologies by 0.3% during the fourth quarter. Certuity LLC now owns 180,707 shares of the company’s stock valued at $4,906,000 after acquiring an additional 552 shares during the period. Legacy Wealth Managment LLC ID raised its holdings in BitMine Immersion Technologies by 40.8% during the first quarter. Legacy Wealth Managment LLC ID now owns 1,966 shares of the company’s stock worth $39,000 after purchasing an additional 570 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in BitMine Immersion Technologies by 16.6% during the first quarter. EverSource Wealth Advisors LLC now owns 4,620 shares of the company’s stock worth $91,000 after purchasing an additional 658 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in BitMine Immersion Technologies by 4.8% during the fourth quarter. Kingsview Wealth Management LLC now owns 15,467 shares of the company’s stock worth $420,000 after purchasing an additional 711 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BMNR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BitMine Immersion Technologies in a research note on Wednesday, July 15th. Cantor Fitzgerald dropped their price objective on BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Finally, B. Riley Financial cut their price objective on BitMine Immersion Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued 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, BitMine Immersion Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $27.65.

BitMine Immersion Technologies Stock Up 8.9%

Shares of NYSE BMNR opened at $18.07 on Friday. The stock’s fifty day simple moving average is $16.27 and its 200 day simple moving average is $20.14. The stock has a market capitalization of $10.90 billion and a price-to-earnings ratio of 361.44. BitMine Immersion Technologies, Inc. has a 52-week low of $12.80 and a 52-week high of $71.74.

BitMine Immersion Technologies (NYSE:BMNR) last announced its earnings results on Tuesday, July 14th. The company reported ($128.25) EPS for the quarter. BitMine Immersion Technologies had a negative net margin of 14,306.56% and a positive return on equity of 3.35%. The company had revenue of $46.53 million for the quarter. As a group, analysts anticipate that BitMine Immersion Technologies, Inc. will post 0.06 earnings per share for the current 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.