30,223 Shares in BitMine Immersion Technologies, Inc. $BMNR Acquired by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC 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 disclosure with the Securities & Exchange Commission. The firm acquired 30,223 shares of the company’s stock, valued at approximately $1,569,000.

Several other large investors also recently added to or reduced their stakes in the business. Strong Tower Advisory Services acquired a new stake in shares of BitMine Immersion Technologies in the 3rd quarter valued at $14,354,000. Robeco Institutional Asset Management B.V. acquired a new position in BitMine Immersion Technologies during the third quarter worth $7,270,000. Voya Investment Management LLC bought a new position in BitMine Immersion Technologies during the third quarter valued at about $2,327,000. Commonwealth Equity Services LLC acquired a new stake in shares of BitMine Immersion Technologies in the third quarter worth about $7,022,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of BitMine Immersion Technologies during the 3rd quarter worth about $196,536,000.

BitMine Immersion Technologies Price Performance

Shares of NYSEAMERICAN:BMNR opened at $21.12 on Thursday. BitMine Immersion Technologies, Inc. has a 1-year low of $3.20 and a 1-year high of $161.00. The business’s 50 day moving average is $25.31 and its 200-day moving average is $37.61.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last issued its earnings results on Tuesday, January 13th. The company reported ($0.05) earnings per share for the quarter. The business had revenue of $2.29 million for the quarter. BitMine Immersion Technologies had a negative net margin of 67,546.19% and a positive return on equity of 7.89%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BMNR shares. B. Riley Financial cut their price objective on BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Cantor Fitzgerald initiated coverage on shares of BitMine Immersion Technologies in a research report on Monday, January 5th. They issued an “overweight” rating and a $39.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target 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.