DV Trading LLC Grows Stock Holdings in BitMine Immersion Technologies, Inc. $BMNR

DV Trading LLC lifted its stake in BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 21,687.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,463 shares of the company’s stock after purchasing an additional 32,314 shares during the quarter. DV Trading LLC’s holdings in BitMine Immersion Technologies were worth $642,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in BMNR. Larson Financial Group LLC bought a new position in BitMine Immersion Technologies during the 3rd quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. purchased a new position in BitMine Immersion Technologies during the third quarter valued at $38,000. Ankerstar Wealth LLC bought a new stake in BitMine Immersion Technologies in the fourth quarter worth $27,000. Pilgrim Partners Asia Pte Ltd bought a new stake in BitMine Immersion Technologies in the fourth quarter worth $27,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of BitMine Immersion Technologies in the third quarter worth $56,000.

BitMine Immersion Technologies Stock Down 4.3%

Shares of NYSE BMNR opened at $17.30 on Friday. BitMine Immersion Technologies, Inc. has a twelve month low of $12.80 and a twelve month high of $71.74. The firm has a market cap of $10.43 billion and a P/E ratio of 345.90. The company has a 50 day moving average of $16.24 and a 200 day moving average of $20.12.

BitMine Immersion Technologies (NYSE:BMNR) last released 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 negative net margin of 14,306.56% and a positive return on equity of 3.35%. The business had revenue of $46.53 million during the quarter. As a group, equities analysts expect that BitMine Immersion Technologies, Inc. will post 0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BMNR. B. Riley Financial reduced their price target on BitMine Immersion Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Cantor Fitzgerald dropped their price target on shares of 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BitMine Immersion Technologies in a research report on Wednesday, July 15th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, BitMine Immersion Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $27.65.

About BitMine Immersion Technologies

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.