22,735 Shares in BitMine Immersion Technologies, Inc. $BMNR Purchased by Compass Financial Management LLC

Compass Financial Management LLC acquired a new stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) in the second quarter, Holdings Channel reports. The fund acquired 22,735 shares of the company’s stock, valued at approximately $303,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BMNR. Turner Financial Group Inc. purchased a new position in shares of BitMine Immersion Technologies in the second quarter worth approximately $417,000. Concurrent Investment Advisors LLC boosted its stake in BitMine Immersion Technologies by 11.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 97,183 shares of the company’s stock worth $1,294,000 after purchasing an additional 9,820 shares during the period. AXQ Capital LP acquired a new position in BitMine Immersion Technologies in the 2nd quarter worth approximately $268,000. ParaFi Capital LP purchased a new position in BitMine Immersion Technologies during the 2nd quarter worth approximately $3,128,000. Finally, Continuum Advisory LLC purchased a new position in BitMine Immersion Technologies during the 2nd quarter worth approximately $53,000.

Analyst Ratings Changes

BMNR has been the subject of a number of research analyst reports. B Riley restated a “buy” rating on shares of BitMine Immersion Technologies in a report on Thursday. B. Riley Financial upped their price target on BitMine Immersion Technologies from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of BitMine Immersion Technologies in a research note on Wednesday, July 15th. Finally, Cantor Fitzgerald lowered their target price on BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, BitMine Immersion Technologies presently has an average rating of “Moderate Buy” and an average target price of $30.15.

BitMine Immersion Technologies Stock Down 0.2%

NYSE BMNR opened at $24.93 on Tuesday. The stock has a market capitalization of $15.04 billion, a PE ratio of 498.60 and a beta of 1.61. BitMine Immersion Technologies, Inc. has a 12-month low of $12.80 and a 12-month high of $65.60. The company has a 50 day moving average price of $18.71 and a two-hundred day moving average price of $19.32.

BitMine Immersion Technologies (NYSE:BMNR) last posted its earnings results on Tuesday, July 14th. The company reported ($128.25) EPS for the quarter. The business had revenue of $46.53 million for the quarter. BitMine Immersion Technologies had a positive return on equity of 3.35% and a negative net margin of 14,306.56%. As a group, equities analysts anticipate that BitMine Immersion Technologies, Inc. will post 0.06 EPS for the current year.

BitMine Immersion Technologies 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.