Virtu Financial LLC Has $25.08 Million Stake in BitMine Immersion Technologies, Inc. $BMNR

Virtu Financial LLC boosted its stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 8,516.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 923,673 shares of the company’s stock after acquiring an additional 912,953 shares during the quarter. BitMine Immersion Technologies accounts for about 1.0% of Virtu Financial LLC’s investment portfolio, making the stock its 5th largest holding. Virtu Financial LLC’s holdings in BitMine Immersion Technologies were worth $25,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. bought a new position in BitMine Immersion Technologies during the 3rd quarter valued at approximately $5,560,000. Stratos Wealth Partners LTD. purchased a new stake in BitMine Immersion Technologies in the third quarter worth $424,000. Rhumbline Advisers bought a new position in BitMine Immersion Technologies in the third quarter worth $305,000. PNC Financial Services Group Inc. bought a new position in BitMine Immersion Technologies in the third quarter worth $278,000. Finally, JPMorgan Chase & Co. purchased a new position in BitMine Immersion Technologies during the third quarter valued at $102,517,000.

BitMine Immersion Technologies Stock Up 3.0%

Shares of NYSE BMNR opened at $16.17 on Friday. The firm’s 50-day moving average price is $19.88 and its 200-day moving average price is $23.56. The company has a market cap of $9.21 billion and a PE ratio of -124.37. BitMine Immersion Technologies, Inc. has a 52-week low of $3.92 and a 52-week high of $161.00.

BitMine Immersion Technologies (NYSE:BMNR) last issued its quarterly earnings data on Tuesday, April 14th. The company reported ($0.08) earnings per share for the quarter. BitMine Immersion Technologies had a negative net margin of 51,892.77% and a positive return on equity of 5.59%. The company had revenue of $11.04 million for the quarter. As a group, equities research analysts anticipate that BitMine Immersion Technologies, Inc. will post 0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BMNR shares. Cantor Fitzgerald upgraded shares of BitMine Immersion Technologies to a “strong-buy” rating in a research note on Thursday, April 9th. B. Riley Financial dropped their price objective on shares of 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. Finally, Weiss Ratings initiated coverage on shares of BitMine Immersion Technologies in a research note on Friday, April 17th. They set a “sell (d-)” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, BitMine Immersion Technologies currently has an average rating of “Moderate Buy” and an average target price of $34.50.

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.