RBF Capital LLC Purchases Shares of 50,000 BitMine Immersion Technologies, Inc. $BMNR

RBF Capital LLC purchased a new position in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) in the first quarter, HoldingsChannel.com reports. The firm purchased 50,000 shares of the company’s stock, valued at approximately $989,000.

Several other hedge funds have also recently made changes to their positions in BMNR. Morgan Stanley grew its stake in BitMine Immersion Technologies by 25.8% during the fourth quarter. Morgan Stanley now owns 12,197,071 shares of the company’s stock worth $331,151,000 after purchasing an additional 2,500,368 shares during the period. Marex Group plc lifted its stake in BitMine Immersion Technologies by 560.1% in the fourth 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 period. ARK Investment Management LLC boosted its holdings in shares of BitMine Immersion Technologies by 26.6% during the 4th quarter. ARK Investment Management LLC now owns 9,457,330 shares of the company’s stock worth $256,767,000 after buying an additional 1,987,517 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings 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 in the last quarter. Finally, Amova Asset Management Americas Inc. grew its position in shares of BitMine Immersion Technologies by 29.9% during the 4th quarter. Amova Asset Management Americas Inc. now owns 4,911,524 shares of the company’s stock worth $133,397,000 after buying an additional 1,129,706 shares during the period.

BitMine Immersion Technologies Stock Performance

Shares of NYSE BMNR opened at $16.62 on Thursday. The stock has a market cap of $10.02 billion and a price-to-earnings ratio of 332.36. BitMine Immersion Technologies, Inc. has a fifty-two week low of $12.80 and a fifty-two week high of $71.74. The firm’s 50-day simple moving average is $16.30 and its 200 day simple moving average is $20.22.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of BitMine Immersion Technologies in a research report on Wednesday, July 15th. Cantor Fitzgerald decreased their price target on shares of BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Finally, B. Riley Financial cut their price objective on shares of 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 investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.