BitMine Immersion Technologies, Inc. $BMNR Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 144.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,224 shares of the company’s stock after buying an additional 30,287 shares during the period. Oppenheimer & Co. Inc.’s holdings in BitMine Immersion Technologies were worth $1,354,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Apollon Wealth Management LLC acquired a new stake in shares of BitMine Immersion Technologies during the 3rd quarter worth about $271,000. Kingswood Wealth Advisors LLC lifted its stake in shares of BitMine Immersion Technologies by 25.7% during the third quarter. Kingswood Wealth Advisors LLC now owns 68,780 shares of the company’s stock valued at $1,818,000 after buying an additional 14,050 shares during the period. Citizens Financial Group Inc. RI lifted its stake in shares of BitMine Immersion Technologies by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 32,730 shares of the company’s stock valued at $865,000 after buying an additional 484 shares during the period. Simplicity Wealth LLC acquired a new stake in BitMine Immersion Technologies during the third quarter worth approximately $535,000. Finally, Sowell Financial Services LLC acquired a new stake in BitMine Immersion Technologies during the third quarter worth approximately $223,000.

BitMine Immersion Technologies Trading Down 0.3%

Shares of BMNR opened at $20.12 on Monday. The firm has a market capitalization of $12.14 billion, a P/E ratio of 402.40 and a beta of 1.80. The stock’s fifty day simple moving average is $24.46 and its 200 day simple moving average is $21.04. BitMine Immersion Technologies, Inc. has a twelve month low of $12.80 and a twelve month high of $47.38.

Analysts Set New Price Targets

Several brokerages have weighed in on BMNR. Weiss Ratings reiterated a “sell (d-)” rating on shares of BitMine Immersion Technologies in a report on Tuesday, October 13th. Wall Street Zen upgraded BitMine Immersion Technologies from a “strong sell” rating to a “sell” rating in a report on Saturday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of BitMine Immersion Technologies in a research report on Tuesday, October 6th. Finally, B. Riley Financial upped their target price on BitMine Immersion Technologies from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, September 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $48.80.

BitMine Immersion Technologies Profile

BitMine Immersion Technologies, Inc is a digital asset technology company focused on cryptocurrency mining and digital asset treasury operations. The company has developed expertise in immersion-cooling systems designed to improve the efficiency and operating environment of high-performance computing equipment used in cryptocurrency mining.

In addition to its mining-related activities, BitMine has pursued a strategy centered on acquiring and holding digital assets, including Ethereum. Its business may also include cryptocurrency mining, data-center operations, and related infrastructure and services.