BitMine Immersion Technologies (NYSEAMERICAN:BMNR) Upgraded to “Strong-Buy” at Cantor Fitzgerald

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) was upgraded by Cantor Fitzgerald to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on BMNR. Zacks Research raised shares of BitMine Immersion Technologies to a “hold” rating in a report on Friday, October 17th. B. Riley dropped their target price on shares of BitMine Immersion Technologies from $90.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Two 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. According to MarketBeat, BitMine Immersion Technologies presently has an average rating of “Buy” and an average price target of $43.00.

BitMine Immersion Technologies Stock Down 3.1%

Shares of BitMine Immersion Technologies stock opened at $32.33 on Monday. BitMine Immersion Technologies has a one year low of $3.20 and a one year high of $161.00. The stock has a 50 day moving average of $33.92. The stock has a market cap of $13.77 billion and a PE ratio of -73.48.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last released its quarterly earnings data on Friday, November 21st. The company reported $15.90 earnings per share for the quarter. BitMine Immersion Technologies had a return on equity of 16.02% and a net margin of 5,719.06%.The firm had revenue of $1.32 million during the quarter.

Institutional Investors Weigh In On BitMine Immersion Technologies

A number of large investors have recently modified their holdings of BMNR. CNB Bank bought a new position in BitMine Immersion Technologies in the third quarter worth about $26,000. Strategic Advocates LLC purchased a new position in shares of BitMine Immersion Technologies during the 3rd quarter worth approximately $27,000. Quintet Private Bank Europe S.A. bought a new position in shares of BitMine Immersion Technologies in the 3rd quarter worth approximately $30,000. Guerra Advisors Inc bought a new position in shares of BitMine Immersion Technologies in the 3rd quarter worth approximately $31,000. Finally, Wellington Shields Capital Management LLC purchased a new position in shares of BitMine Immersion Technologies in the 3rd quarter valued at approximately $31,000.

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.