BitMine Immersion Technologies (NYSEAMERICAN:BMNR) Shares Up 3.4% – Here’s What Happened

BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR)’s share price was up 3.4% during trading on Tuesday . The company traded as high as $32.52 and last traded at $32.01. Approximately 15,720,465 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 21,880,217 shares. The stock had previously closed at $30.95.

Analyst Ratings Changes

Several analysts recently commented on BMNR shares. ThinkEquity upgraded BitMine Immersion Technologies to a “strong-buy” rating in a report on Monday, July 21st. Zacks Research upgraded shares of BitMine Immersion Technologies to a “hold” rating in a research report on Friday, October 17th. Finally, B. Riley began coverage on shares of BitMine Immersion Technologies in a research report on Wednesday, October 15th. They set a “buy” rating and a $90.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, BitMine Immersion Technologies currently has a consensus rating of “Buy” and a consensus target price of $90.00.

BitMine Immersion Technologies Price Performance

The business has a fifty day moving average of $49.92. The firm has a market cap of $9.13 billion and a price-to-earnings ratio of -74.36.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. CNB Bank acquired a new stake in BitMine Immersion Technologies in the third quarter worth $26,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of BitMine Immersion Technologies in the 3rd quarter valued at about $30,000. Guerra Advisors Inc bought a new stake in BitMine Immersion Technologies in the 3rd quarter valued at about $31,000. Wellington Shields Capital Management LLC bought a new stake in BitMine Immersion Technologies in the 3rd quarter valued at about $31,000. Finally, HM Payson & Co. acquired a new position in BitMine Immersion Technologies during the 3rd quarter worth approximately $35,000.

BitMine Immersion Technologies Company Profile

BitMine Immersion Technologies Inc focused on bitcoin mining using immersion technology. BitMine Immersion Technologies Inc is based in ATLANTA, GA.