Nations Financial Group Inc. IA ADV Cuts Position in BitMine Immersion Technologies, Inc. $BMNR

Nations Financial Group Inc. IA ADV trimmed its holdings in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 32.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,375 shares of the company’s stock after selling 34,079 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in BitMine Immersion Technologies were worth $1,432,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State of Michigan Retirement System increased its holdings in BitMine Immersion Technologies by 141.7% in the 4th quarter. State of Michigan Retirement System now owns 145,000 shares of the company’s stock valued at $3,937,000 after purchasing an additional 85,000 shares in the last quarter. ARK Investment Management LLC acquired a new position in shares of BitMine Immersion Technologies during the third quarter worth about $387,907,000. Blue Sky Capital Consultants Group Inc. lifted its stake in shares of BitMine Immersion Technologies by 340.5% during the fourth quarter. Blue Sky Capital Consultants Group Inc. now owns 95,799 shares of the company’s stock worth $2,601,000 after purchasing an additional 74,052 shares in the last quarter. Menard Financial Group LLC purchased a new stake in shares of BitMine Immersion Technologies in the third quarter worth about $2,595,000. Finally, Vanguard Group Inc. purchased a new stake in shares of BitMine Immersion Technologies in the third quarter worth about $148,612,000.

BitMine Immersion Technologies Price Performance

Shares of BMNR stock opened at $15.84 on Tuesday. BitMine Immersion Technologies, Inc. has a 12 month low of $3.92 and a 12 month high of $161.00. The firm has a market capitalization of $9.02 billion and a P/E ratio of -121.81. The company’s fifty day moving average price is $19.67 and its two-hundred day moving average price is $23.36.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BMNR. Cantor Fitzgerald upgraded BitMine Immersion Technologies to a “strong-buy” rating in a research note on Thursday, April 9th. B. Riley Financial decreased their price target on BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Finally, Weiss Ratings assumed coverage on shares of BitMine Immersion Technologies in a research report on Friday, April 17th. They issued 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 issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.