Wolverine Asset Management LLC Takes $2.86 Million Position in BitMine Immersion Technologies, Inc. $BMNR

Wolverine Asset Management LLC acquired a new stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 105,302 shares of the company’s stock, valued at approximately $2,859,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. ARK Investment Management LLC acquired a new position in shares of BitMine Immersion Technologies during the 3rd quarter valued at about $387,907,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of BitMine Immersion Technologies by 29.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,916,195 shares of the company’s stock valued at $133,475,000 after acquiring an additional 1,131,556 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of BitMine Immersion Technologies by 65.7% during the 4th quarter. Vanguard Group Inc. now owns 4,742,559 shares of the company’s stock valued at $128,760,000 after acquiring an additional 1,880,793 shares during the last quarter. Amova Asset Management Americas Inc. acquired a new position in shares of BitMine Immersion Technologies during the 3rd quarter valued at about $196,503,000. Finally, Pantera Capital Partners LP acquired a new position in shares of BitMine Immersion Technologies during the 3rd quarter valued at about $122,036,000.

BitMine Immersion Technologies Stock Performance

BMNR opened at $22.73 on Tuesday. The firm has a 50 day moving average price of $20.88 and a 200 day moving average price of $28.69. The company has a market cap of $12.95 billion and a PE ratio of -174.84. BitMine Immersion Technologies, Inc. has a 1 year low of $3.20 and a 1 year high of $161.00.

BitMine Immersion Technologies (NYSE:BMNR) last posted its earnings results on Tuesday, April 14th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $11.04 million for the quarter. BitMine Immersion Technologies had a positive return on equity of 5.59% and a negative net margin of 51,892.77%. On average, sell-side analysts predict that BitMine Immersion Technologies, Inc. will post 0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BMNR shares. B. Riley Financial dropped their price objective on shares of 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. Weiss Ratings started coverage on shares of BitMine Immersion Technologies in a research note on Friday, April 17th. They set a “sell (d-)” rating for the company. Finally, Cantor Fitzgerald raised shares of BitMine Immersion Technologies to a “strong-buy” rating in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.