BitMine Immersion Technologies (NYSE:BMNR) Announces Earnings Results

BitMine Immersion Technologies (NYSE:BMNR) announced its earnings results on Tuesday. The company reported ($128.25) EPS for the quarter, FiscalAI reports. BitMine Immersion Technologies had a negative net margin of 14,306.56% and a positive return on equity of 3.49%.

BitMine Immersion Technologies Price Performance

Shares of BMNR stock opened at $15.81 on Thursday. The business’s fifty day moving average price is $17.13 and its 200 day moving average price is $21.14. BitMine Immersion Technologies has a 1-year low of $12.80 and a 1-year high of $71.74. The firm has a market capitalization of $9.01 billion and a PE ratio of -121.65.

Institutional Investors Weigh In On BitMine Immersion Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strategic Advocates LLC purchased a new position in shares of BitMine Immersion Technologies in the 3rd quarter valued at about $27,000. Pilgrim Partners Asia Pte Ltd acquired a new position in BitMine Immersion Technologies during the fourth quarter worth about $27,000. Ankerstar Wealth LLC purchased a new position in BitMine Immersion Technologies in the fourth quarter valued at about $27,000. Lodestone Wealth Management LLC acquired a new stake in shares of BitMine Immersion Technologies during the 4th quarter valued at approximately $30,000. Finally, Trust Co. of Vermont lifted its position in shares of BitMine Immersion Technologies by 424.4% during the 4th quarter. Trust Co. of Vermont now owns 1,180 shares of the company’s stock valued at $32,000 after acquiring an additional 955 shares during the period.

Wall Street Analyst Weigh In

BMNR has been the subject of a number of recent research reports. Cantor Fitzgerald decreased their price objective 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. Weiss Ratings initiated coverage on BitMine Immersion Technologies in a research note on Friday, April 17th. They set a “sell (d-)” rating for the company. Two equities research analysts have 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. Based on data from MarketBeat, BitMine Immersion Technologies presently has a consensus rating of “Moderate Buy” and an average price target 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.