Sovran Advisors LLC Invests $8.31 Million in BitMine Immersion Technologies, Inc. $BMNR

Sovran Advisors LLC acquired a new stake in BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) during the third quarter, according to its most recent filing with the SEC. The firm acquired 160,057 shares of the company’s stock, valued at approximately $8,312,000. Sovran Advisors LLC owned about 0.06% of BitMine Immersion Technologies at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in shares of BitMine Immersion Technologies in the second quarter valued at about $374,000. Lauer Wealth LLC purchased a new stake in BitMine Immersion Technologies in the 2nd quarter valued at approximately $363,000. Skandinaviska Enskilda Banken AB publ acquired a new position in BitMine Immersion Technologies during the 2nd quarter worth approximately $508,000. Sassicaia Capital Advisers LLC acquired a new position in BitMine Immersion Technologies during the 2nd quarter worth approximately $1,570,000. Finally, Marex Group plc purchased a new position in shares of BitMine Immersion Technologies during the 2nd quarter worth approximately $465,000.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BMNR. B. Riley decreased their price target on 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. Zacks Research raised shares of BitMine Immersion Technologies to a “hold” rating in a research note on Friday, October 17th. Finally, Cantor Fitzgerald started coverage on shares of BitMine Immersion Technologies in a report on Monday, January 5th. They issued an “overweight” rating and a $39.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $43.00.

BitMine Immersion Technologies Price Performance

BitMine Immersion Technologies stock opened at $28.80 on Monday. BitMine Immersion Technologies, Inc. has a fifty-two week low of $3.20 and a fifty-two week high of $161.00. The stock’s fifty day moving average is $31.13 and its two-hundred day moving average is $41.80.

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

BitMine Immersion Technologies Announces Dividend

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

About BitMine Immersion Technologies

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.