Boundless Plain Holdings Ltd Invests $16.91 Million in BitMine Immersion Technologies, Inc. $BMNR

Boundless Plain Holdings Ltd bought a new position in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 622,873 shares of the company’s stock, valued at approximately $16,911,000. BitMine Immersion Technologies accounts for about 5.4% of Boundless Plain Holdings Ltd’s investment portfolio, making the stock its 6th largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in shares of BitMine Immersion Technologies by 56.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,962 shares of the company’s stock worth $108,000 after purchasing an additional 1,432 shares during the period. Axxcess Wealth Management LLC raised its position in shares of BitMine Immersion Technologies by 31.1% during the fourth quarter. Axxcess Wealth Management LLC now owns 7,784 shares of the company’s stock worth $211,000 after purchasing an additional 1,846 shares during the period. Clientfirst Wealth Management LLC acquired a new stake in shares of BitMine Immersion Technologies during the fourth quarter worth $227,000. Flaharty Asset Management LLC raised its position in shares of BitMine Immersion Technologies by 63.5% during the fourth quarter. Flaharty Asset Management LLC now owns 10,304 shares of the company’s stock worth $280,000 after purchasing an additional 4,000 shares during the period. Finally, Leonteq Securities AG acquired a new stake in shares of BitMine Immersion Technologies during the fourth quarter worth $2,741,000.

Analyst Upgrades and Downgrades

BMNR has been the topic of a number of recent analyst reports. Cantor Fitzgerald raised BitMine Immersion Technologies to a “strong-buy” rating in a research report on Thursday, April 9th. B. Riley Financial cut their target price on BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Finally, Weiss Ratings initiated coverage on BitMine Immersion Technologies in a research report on Friday, April 17th. They set a “sell (d-)” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, BitMine Immersion Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

BitMine Immersion Technologies Trading Down 3.7%

NYSE:BMNR opened at $18.89 on Friday. The firm has a market capitalization of $10.76 billion and a price-to-earnings ratio of -145.28. BitMine Immersion Technologies, Inc. has a 1-year low of $3.92 and a 1-year high of $161.00. The business’s fifty day moving average price is $21.09 and its 200 day moving average price is $25.95.

BitMine Immersion Technologies (NYSE:BMNR) last posted its quarterly earnings results on Tuesday, April 14th. The company reported ($0.08) earnings per share for the quarter. The business had revenue of $11.04 million for the quarter. BitMine Immersion Technologies had a negative net margin of 51,892.77% and a positive return on equity of 5.59%. Equities analysts forecast that BitMine Immersion Technologies, Inc. will post 0.29 earnings per share for the current year.

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.