22,735 Shares in BitMine Immersion Technologies, Inc. $BMNR Acquired by Compass Financial Management LLC

Compass Financial Management LLC acquired a new stake in BitMine Immersion Technologies, Inc. (NYSE:BMNR) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 22,735 shares of the company’s stock, valued at approximately $303,000.

Other institutional investors have also recently modified their holdings of the company. Morgan Stanley lifted its stake in BitMine Immersion Technologies by 25.8% during the fourth quarter. Morgan Stanley now owns 12,197,071 shares of the company’s stock worth $331,151,000 after purchasing an additional 2,500,368 shares during the last quarter. Marex Group plc grew its holdings in shares of BitMine Immersion Technologies by 560.1% during the 4th quarter. Marex Group plc now owns 10,024,103 shares of the company’s stock valued at $272,154,000 after purchasing an additional 8,505,421 shares during the last quarter. ARK Investment Management LLC increased its position in BitMine Immersion Technologies by 26.6% during the 4th quarter. ARK Investment Management LLC now owns 9,457,330 shares of the company’s stock worth $256,767,000 after purchasing an additional 1,987,517 shares in the last quarter. Amova Asset Management Americas Inc. lifted its stake in BitMine Immersion Technologies by 29.9% in the 4th quarter. Amova Asset Management Americas Inc. now owns 4,911,524 shares of the company’s stock valued at $133,397,000 after purchasing an additional 1,129,706 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in BitMine Immersion Technologies by 65.7% in the 4th quarter. Vanguard Group Inc. now owns 4,742,559 shares of the company’s stock valued at $128,760,000 after purchasing an additional 1,880,793 shares during the last quarter.

Analysts Set New Price Targets

BMNR has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of BitMine Immersion Technologies in a report on Wednesday, July 15th. B. Riley Financial lowered their target price on BitMine Immersion Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Finally, Cantor Fitzgerald dropped their target price 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. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, BitMine Immersion Technologies presently has an average rating of “Moderate Buy” and an average target price of $27.65.

BitMine Immersion Technologies Trading Up 5.8%

NYSE BMNR opened at $24.14 on Tuesday. The business’s 50-day moving average price is $16.76 and its two-hundred day moving average price is $18.99. BitMine Immersion Technologies, Inc. has a 12 month low of $12.80 and a 12 month high of $65.60. The firm has a market capitalization of $14.56 billion, a PE ratio of 482.88 and a beta of 1.28.

BitMine Immersion Technologies (NYSE:BMNR) last issued its quarterly 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 during the quarter. As a group, analysts forecast that BitMine Immersion Technologies, Inc. will post 0.06 earnings per share for the current fiscal 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.