BitMine Immersion Technologies, Inc. $BMNR Holdings Trimmed by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC lowered its holdings in BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 88.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,486 shares of the company’s stock after selling 118,760 shares during the period. Teamwork Financial Advisors LLC’s holdings in BitMine Immersion Technologies were worth $409,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Weiss Asset Management LP increased its holdings in 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 buying an additional 3,394,677 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of BitMine Immersion Technologies during the 2nd quarter valued at approximately $20,069,000. California Public Employees Retirement System bought a new stake in shares of BitMine Immersion Technologies during the 1st quarter valued at approximately $14,072,000. Strong Tower Advisory Services increased its position in BitMine Immersion Technologies by 11.5% during the 1st quarter. Strong Tower Advisory Services now owns 561,699 shares of the company’s stock worth $11,110,000 after purchasing an additional 57,803 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in BitMine Immersion Technologies during the 3rd quarter worth approximately $13,446,000.

BitMine Immersion Technologies Price Performance

Shares of BitMine Immersion Technologies stock traded down $0.06 during trading on Monday, hitting $21.60. The company’s stock had a trading volume of 22,075,962 shares, compared to its average volume of 40,498,492. BitMine Immersion Technologies, Inc. has a 52 week low of $12.80 and a 52 week high of $55.19. The stock has a market cap of $13.03 billion, a price-to-earnings ratio of 431.96 and a beta of 1.52. The stock has a 50-day moving average price of $23.95 and a two-hundred day moving average price of $20.31.

Analyst Ratings Changes

A number of brokerages have weighed in on BMNR. B. Riley Financial raised their target price on shares of BitMine Immersion Technologies from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of BitMine Immersion Technologies in a report on Tuesday, October 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BitMine Immersion Technologies in a report on Tuesday, October 13th. Finally, Wall Street Zen upgraded BitMine Immersion Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 10th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $48.80.

BitMine Immersion Technologies Profile

BitMine Immersion Technologies, Inc is a digital asset technology company focused on cryptocurrency mining and digital asset treasury operations. The company has developed expertise in immersion-cooling systems designed to improve the efficiency and operating environment of high-performance computing equipment used in cryptocurrency mining.

In addition to its mining-related activities, BitMine has pursued a strategy centered on acquiring and holding digital assets, including Ethereum. Its business may also include cryptocurrency mining, data-center operations, and related infrastructure and services.