BitMine Immersion Technologies, Inc. $BMNR Position Increased by J. Derek Lewis & Associates Inc.

J. Derek Lewis & Associates Inc. grew its holdings in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 117.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,783 shares of the company’s stock after purchasing an additional 47,402 shares during the period. J. Derek Lewis & Associates Inc.’s holdings in BitMine Immersion Technologies were worth $1,736,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BMNR. Marex Group plc grew its position in shares of BitMine Immersion Technologies by 560.1% during the 4th quarter. Marex Group plc now owns 10,024,103 shares of the company’s stock valued at $272,154,000 after buying an additional 8,505,421 shares during the last quarter. Weiss Asset Management LP lifted its holdings in BitMine Immersion Technologies by 363.6% in the first quarter. Weiss Asset Management LP now owns 4,328,294 shares of the company’s stock worth $85,614,000 after acquiring an additional 3,394,677 shares during the last quarter. Mozayyx Management LLC bought a new position in BitMine Immersion Technologies in the fourth quarter worth about $90,500,000. Morgan Stanley boosted its stake in BitMine Immersion Technologies by 25.8% in the fourth quarter. Morgan Stanley now owns 12,197,071 shares of the company’s stock valued at $331,151,000 after acquiring an additional 2,500,368 shares during the period. Finally, Pantera Capital Partners LP bought a new position in shares of BitMine Immersion Technologies during the third quarter valued at approximately $122,036,000.

BitMine Immersion Technologies Trading Up 8.9%

Shares of NYSE:BMNR opened at $18.07 on Friday. The firm’s 50 day moving average is $16.27 and its two-hundred day moving average is $20.14. BitMine Immersion Technologies, Inc. has a 52 week low of $12.80 and a 52 week high of $71.74. The firm has a market capitalization of $10.90 billion and a P/E ratio of 361.44.

BitMine Immersion Technologies (NYSE:BMNR) last issued its quarterly earnings data on Tuesday, July 14th. The company reported ($128.25) earnings per share (EPS) for the quarter. BitMine Immersion Technologies had a positive return on equity of 3.35% and a negative net margin of 14,306.56%.The business had revenue of $46.53 million for the quarter. Analysts predict that BitMine Immersion Technologies, Inc. will post 0.06 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Cantor Fitzgerald dropped their price target on BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating on the stock in a research report on Wednesday, July 1st. Weiss Ratings restated a “sell (d-)” rating on shares of BitMine Immersion Technologies in a research note on Wednesday, July 15th. Finally, B. Riley Financial dropped their target price on BitMine Immersion Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $27.65.

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.