BitMine Immersion Technologies (NYSEAMERICAN:BMNR) Issues Quarterly Earnings Results

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) issued its earnings results on Tuesday. The company reported ($12.74) earnings per share for the quarter, FiscalAI reports. The business had revenue of $2.29 million during the quarter. BitMine Immersion Technologies had a positive return on equity of 13.57% and a negative net margin of 67,546.17%.

BitMine Immersion Technologies Stock Up 4.6%

BitMine Immersion Technologies stock opened at $32.66 on Thursday. BitMine Immersion Technologies has a 12-month low of $3.20 and a 12-month high of $161.00. The business has a 50 day moving average price of $32.36.

BitMine Immersion Technologies Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 8th were paid a dividend of $0.01 per share. The ex-dividend date was Monday, December 8th. This represents a dividend yield of 3.0%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. CNB Bank purchased a new position in BitMine Immersion Technologies during the third quarter valued at approximately $26,000. Strategic Advocates LLC acquired a new position in shares of BitMine Immersion Technologies during the 3rd quarter worth approximately $27,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of BitMine Immersion Technologies in the 3rd quarter worth $30,000. Guerra Advisors Inc purchased a new stake in shares of BitMine Immersion Technologies during the 3rd quarter valued at approximately $31,000. Finally, Wellington Shields Capital Management LLC purchased a new stake in BitMine Immersion Technologies in the third quarter valued at $31,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BMNR shares. Cantor Fitzgerald assumed coverage on shares of BitMine Immersion Technologies in a research note on Monday, January 5th. They issued an “overweight” rating and a $39.00 price target for the company. Zacks Research raised BitMine Immersion Technologies to a “hold” rating in a research report on Friday, October 17th. Finally, B. Riley dropped their price objective on shares of BitMine Immersion Technologies from $90.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, BitMine Immersion Technologies currently has an average rating of “Buy” and an average target price of $43.00.

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.