D.A. Davidson & CO. Increases Stock Holdings in BitMine Immersion Technologies, Inc. $BMNR

D.A. Davidson & CO. lifted its position in BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 106.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 68,659 shares of the company’s stock after purchasing an additional 35,429 shares during the period. D.A. Davidson & CO.’s holdings in BitMine Immersion Technologies were worth $1,864,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. CNB Bank bought a new position in shares of BitMine Immersion Technologies in the third quarter worth approximately $26,000. Strategic Advocates LLC bought a new position in shares of BitMine Immersion Technologies in the third quarter worth approximately $27,000. Guerra Advisors Inc bought a new position in shares of BitMine Immersion Technologies in the third quarter worth approximately $31,000. Wellington Shields Capital Management LLC bought a new position in shares of BitMine Immersion Technologies in the third quarter worth approximately $31,000. Finally, Aspect Partners LLC purchased a new stake in shares of BitMine Immersion Technologies during the 3rd quarter valued at $35,000.

BitMine Immersion Technologies Price Performance

Shares of BMNR opened at $21.88 on Friday. The firm has a market cap of $12.46 billion and a P/E ratio of -168.33. The stock has a 50 day simple moving average of $20.88 and a two-hundred day simple moving average of $29.05. BitMine Immersion Technologies, Inc. has a 1 year low of $3.20 and a 1 year high of $161.00.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Weiss Ratings assumed coverage on shares of BitMine Immersion Technologies in a research report on Friday, April 17th. They set a “sell (d-)” rating on the stock. B. Riley Financial lowered their price objective on shares of 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, Cantor Fitzgerald upgraded shares of BitMine Immersion Technologies to a “strong-buy” rating in a research report on Thursday, April 9th. 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.50.

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.