BitMine Immersion Technologies, Inc. $BMNR Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 9.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,032,244 shares of the company’s stock after selling 419,827 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in BitMine Immersion Technologies were worth $106,572,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. 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 buying an additional 3,394,677 shares during the period. Entropy Technologies LP bought a new stake in BitMine Immersion Technologies during the 1st quarter valued at approximately $1,906,000. Corient Private Wealth LP grew its holdings in shares of BitMine Immersion Technologies by 89.5% during the 2nd quarter. Corient Private Wealth LP now owns 77,285 shares of the company’s stock worth $1,029,000 after acquiring an additional 36,495 shares during the period. Dimensional Fund Advisors LP purchased a new position in shares of BitMine Immersion Technologies during the 1st quarter worth approximately $4,275,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of BitMine Immersion Technologies by 612.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 132,063 shares of the company’s stock worth $2,612,000 after acquiring an additional 113,532 shares during the period.

BitMine Immersion Technologies Stock Down 3.2%

NYSE:BMNR opened at $19.53 on Tuesday. The firm’s 50-day moving average price is $24.39 and its 200-day moving average price is $20.98. BitMine Immersion Technologies, Inc. has a 1-year low of $12.80 and a 1-year high of $44.88.

Analyst Upgrades and Downgrades

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