Newbridge Financial Services Group Inc. Purchases New Shares in BitMine Immersion Technologies, Inc. $BMNR

Newbridge Financial Services Group Inc. acquired a new stake in BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 27,600 shares of the company’s stock, valued at approximately $1,433,000.

Several other large investors have also recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new stake in shares of BitMine Immersion Technologies in the second quarter valued at about $374,000. Lauer Wealth LLC bought a new stake in shares of BitMine Immersion Technologies during the 2nd quarter valued at $363,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of BitMine Immersion Technologies during the 2nd quarter valued at $508,000. Sassicaia Capital Advisers LLC acquired a new stake in shares of BitMine Immersion Technologies during the 2nd quarter worth $1,570,000. Finally, Marex Group plc acquired a new stake in shares of BitMine Immersion Technologies during the 2nd quarter worth $465,000.

BitMine Immersion Technologies Stock Performance

NYSEAMERICAN BMNR opened at $20.54 on Friday. The business has a fifty day moving average price of $24.18 and a two-hundred day moving average price of $36.21. BitMine Immersion Technologies, Inc. has a fifty-two week low of $3.20 and a fifty-two week high of $161.00.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last issued its quarterly earnings results on Tuesday, January 13th. The company reported ($0.05) earnings per share (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 business had revenue of $2.29 million during the quarter.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BMNR shares. B. Riley Financial dropped their price target on BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Cantor Fitzgerald began coverage on shares of BitMine Immersion Technologies in a research note on Monday, January 5th. They set an “overweight” rating and a $39.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $34.50.

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.