California Public Employees Retirement System Acquires New Shares in BitMine Immersion Technologies, Inc. $BMNR

California Public Employees Retirement System bought a new position in BitMine Immersion Technologies, Inc. (NYSE:BMNR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 711,435 shares of the company’s stock, valued at approximately $14,072,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Michigan Retirement System increased its holdings in shares of BitMine Immersion Technologies by 141.7% in the fourth 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. Blue Sky Capital Consultants Group Inc. boosted its holdings in BitMine Immersion Technologies by 340.5% in the fourth quarter. Blue Sky Capital Consultants Group Inc. now owns 95,799 shares of the company’s stock valued at $2,601,000 after acquiring an additional 74,052 shares during the last quarter. Strong Tower Advisory Services boosted its stake in shares of BitMine Immersion Technologies by 82.3% in the 4th quarter. Strong Tower Advisory Services now owns 503,896 shares of the company’s stock valued at $13,681,000 after purchasing an additional 227,484 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of BitMine Immersion Technologies by 29.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,916,195 shares of the company’s stock worth $133,475,000 after buying an additional 1,131,556 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of BitMine Immersion Technologies by 57.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 220,000 shares of the company’s stock worth $5,973,000 after buying an additional 80,000 shares during the last quarter.

Analyst Upgrades and Downgrades

BMNR has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BitMine Immersion Technologies in a report on Wednesday, July 15th. B. Riley Financial dropped their price objective on BitMine Immersion Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Finally, Cantor Fitzgerald reduced their target price on BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BitMine Immersion Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.65.

BitMine Immersion Technologies Price Performance

Shares of NYSE BMNR opened at $15.82 on Friday. BitMine Immersion Technologies, Inc. has a one year low of $12.80 and a one year high of $71.74. The firm has a market cap of $9.54 billion and a price-to-earnings ratio of 316.44. The stock’s fifty day moving average price is $16.39 and its two-hundred day moving average price is $20.60.

BitMine Immersion Technologies (NYSE:BMNR) last issued its quarterly earnings data on Tuesday, July 14th. The company reported ($128.25) earnings per share 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 during the quarter. On average, equities analysts anticipate that BitMine Immersion Technologies, Inc. will post 0.06 earnings per share for the current fiscal year.

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.