Nations Financial Group Inc. IA ADV Makes New Investment in BitMine Immersion Technologies, Inc. $BMNR

Nations Financial Group Inc. IA ADV acquired a new stake in shares of BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 110,536 shares of the company’s stock, valued at approximately $5,740,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BMNR. Quintet Private Bank Europe S.A. bought a new stake in BitMine Immersion Technologies in the 3rd quarter valued at about $30,000. HM Payson & Co. bought a new position in BitMine Immersion Technologies in the third quarter worth approximately $35,000. American Capital Advisory LLC acquired a new stake in BitMine Immersion Technologies in the third quarter valued at approximately $36,000. Rise Advisors LLC acquired a new stake in BitMine Immersion Technologies in the third quarter valued at approximately $55,000. Finally, Bogart Wealth LLC bought a new stake in shares of BitMine Immersion Technologies during the third quarter valued at approximately $80,000.

BitMine Immersion Technologies Trading Up 0.9%

BitMine Immersion Technologies stock opened at $31.16 on Friday. BitMine Immersion Technologies, Inc. has a fifty-two week low of $3.20 and a fifty-two week high of $161.00. The firm’s 50 day moving average price is $32.05.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last released its earnings results on Tuesday, January 13th. The company reported ($12.74) EPS for the quarter. BitMine Immersion Technologies had a negative net margin of 67,546.19% and a positive return on equity of 7.89%. The firm had revenue of $2.29 million during the quarter.

BitMine Immersion Technologies Announces Dividend

The firm also recently announced an annual dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 8th were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a dividend yield of 3.0%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BMNR. Cantor Fitzgerald initiated coverage on BitMine Immersion Technologies in a report on Monday, January 5th. They issued an “overweight” rating and a $39.00 target price on the stock. Zacks Research upgraded shares of BitMine Immersion Technologies to a “hold” rating in a research note 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.