BitMine Immersion Technologies (NYSEAMERICAN:BMNR) Shares Gap Down – Here’s What Happened

BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) shares gapped down before the market opened on Monday . The stock had previously closed at $33.12, but opened at $30.51. BitMine Immersion Technologies shares last traded at $30.3650, with a volume of 12,395,604 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BMNR. B. Riley cut their target price on shares of BitMine Immersion Technologies from $90.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Zacks Research raised BitMine Immersion Technologies to a “hold” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $47.00.

BitMine Immersion Technologies Stock Performance

The stock has a 50-day moving average price of $45.72. The stock has a market cap of $11.19 billion and a PE ratio of -66.09.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last issued its quarterly earnings data on Friday, November 21st. The company reported $15.90 earnings per share (EPS) for the quarter. BitMine Immersion Technologies had a return on equity of 16.02% and a net margin of 5,719.06%.The business had revenue of $1.32 million during the quarter.

BitMine Immersion Technologies Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 8th will be paid a dividend of $0.01 per share. This represents a dividend yield of 4.0%. The ex-dividend date is Monday, December 8th.

Hedge Funds Weigh In On BitMine Immersion Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ARK Investment Management LLC bought a new stake in shares of BitMine Immersion Technologies during the 3rd quarter worth about $387,907,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of BitMine Immersion Technologies during the third quarter valued at approximately $196,536,000. Amova Asset Management Americas Inc. bought a new stake in BitMine Immersion Technologies during the third quarter worth approximately $196,503,000. Vanguard Group Inc. acquired a new stake in BitMine Immersion Technologies in the third quarter worth approximately $148,612,000. Finally, Pantera Capital Partners LP bought a new position in BitMine Immersion Technologies during the 3rd quarter valued at $122,036,000.

About BitMine Immersion Technologies

BitMine Immersion Technologies Inc focused on bitcoin mining using immersion technology. BitMine Immersion Technologies Inc is based in ATLANTA, GA.