DV Trading LLC Buys 32,314 Shares of BitMine Immersion Technologies, Inc. $BMNR

DV Trading LLC grew its stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 21,687.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,463 shares of the company’s stock after acquiring an additional 32,314 shares during the quarter. DV Trading LLC’s holdings in BitMine Immersion Technologies were worth $642,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Rhumbline Advisers purchased a new position in shares of BitMine Immersion Technologies during the third quarter valued at approximately $305,000. Blair William & Co. IL purchased a new stake in BitMine Immersion Technologies in the third quarter worth approximately $444,000. CreativeOne Wealth LLC bought a new stake in BitMine Immersion Technologies in the 3rd quarter worth approximately $282,000. Jefferies Financial Group Inc. bought a new stake in shares of BitMine Immersion Technologies in the third quarter worth $508,000. Finally, Banque Cantonale Vaudoise bought a new position in BitMine Immersion Technologies in the third quarter valued at about $56,000.

BitMine Immersion Technologies Stock Performance

Shares of BitMine Immersion Technologies stock opened at $17.30 on Friday. BitMine Immersion Technologies, Inc. has a one year low of $12.80 and a one year high of $71.74. The stock’s fifty day moving average is $16.24 and its 200 day moving average is $20.12. The stock has a market cap of $10.43 billion and a P/E ratio of 345.90.

BitMine Immersion Technologies (NYSE:BMNR) last released its earnings results on Tuesday, July 14th. The company reported ($128.25) earnings per share 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. Analysts predict that BitMine Immersion Technologies, Inc. will post 0.06 EPS for the current year.

Analyst Upgrades and Downgrades

BMNR has been the subject of several research reports. B. Riley Financial reduced their price target on shares of BitMine Immersion Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of BitMine Immersion Technologies in a report on Wednesday, July 15th. Finally, Cantor Fitzgerald cut their target price on shares of 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 given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.65.

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.