Teamwork Financial Advisors LLC Has $1.79 Million Stock Position in BitMine Immersion Technologies, Inc. $BMNR

Teamwork Financial Advisors LLC increased its stake in BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 38.5% during the second quarter, HoldingsChannel reports. The firm owned 134,246 shares of the company’s stock after acquiring an additional 37,325 shares during the period. Teamwork Financial Advisors LLC’s holdings in BitMine Immersion Technologies were worth $1,787,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Michigan Retirement System increased its position in shares of BitMine Immersion Technologies by 141.7% in the fourth quarter. State of Michigan Retirement System now owns 145,000 shares of the company’s stock worth $3,937,000 after acquiring an additional 85,000 shares in the last quarter. Blue Sky Capital Consultants Group Inc. lifted its position in shares of BitMine Immersion Technologies by 340.5% in the 4th quarter. Blue Sky Capital Consultants Group Inc. now owns 95,799 shares of the company’s stock valued at $2,601,000 after acquiring an additional 74,052 shares in the last quarter. Weiss Asset Management LP lifted its position in shares of BitMine Immersion Technologies by 363.6% in the 1st quarter. Weiss Asset Management LP now owns 4,328,294 shares of the company’s stock valued at $85,614,000 after acquiring an additional 3,394,677 shares in the last quarter. Entropy Technologies LP acquired a new position in BitMine Immersion Technologies in the 1st quarter worth approximately $1,906,000. Finally, Strong Tower Advisory Services boosted its stake in BitMine Immersion Technologies by 82.3% in the 4th quarter. Strong Tower Advisory Services now owns 503,896 shares of the company’s stock worth $13,681,000 after purchasing an additional 227,484 shares during the period.

BitMine Immersion Technologies Price Performance

Shares of BMNR opened at $18.81 on Friday. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 376.12 and a beta of 1.30. BitMine Immersion Technologies, Inc. has a fifty-two week low of $12.80 and a fifty-two week high of $71.74. The business’s 50-day moving average is $16.15 and its 200-day moving average is $19.65.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. B. Riley Financial lowered their price objective on shares of BitMine Immersion Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Weiss Ratings restated a “sell (d-)” rating on shares of BitMine Immersion Technologies in a report on Wednesday, July 15th. Finally, Cantor Fitzgerald decreased their target price on BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $27.65.

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.