21,000 Shares in BitMine Immersion Technologies, Inc. $BMNR Bought by Summa Corp.

Summa Corp. purchased a new position in BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 21,000 shares of the company’s stock, valued at approximately $1,091,000. BitMine Immersion Technologies makes up 0.5% of Summa Corp.’s holdings, making the stock its 22nd largest holding.

Several other large investors have also made changes to their positions in the business. Quintet Private Bank Europe S.A. bought a new position in shares of BitMine Immersion Technologies in the third quarter worth about $30,000. HM Payson & Co. bought a new stake in BitMine Immersion Technologies during the 3rd quarter valued at approximately $35,000. Rise Advisors LLC purchased a new position in BitMine Immersion Technologies in the 3rd quarter worth approximately $55,000. Bogart Wealth LLC bought a new position in BitMine Immersion Technologies in the 3rd quarter worth approximately $80,000. Finally, City Holding Co. bought a new position in BitMine Immersion Technologies in the 3rd quarter worth approximately $93,000.

BitMine Immersion Technologies Stock Up 0.3%

NYSEAMERICAN BMNR opened at $31.22 on Wednesday. The firm’s 50 day moving average price is $32.53. BitMine Immersion Technologies, Inc. has a one year low of $3.20 and a one year high of $161.00. The company has a market cap of $13.29 billion and a P/E ratio of -70.95.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last released its quarterly earnings results on Friday, November 21st. The company reported $15.90 earnings per share (EPS) for the quarter. BitMine Immersion Technologies had a net margin of 5,719.06% and a return on equity of 16.02%. The company had revenue of $1.32 million for the quarter.

BitMine Immersion Technologies Dividend Announcement

The firm also recently declared an annual dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 8th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a dividend yield of 3.0%.

Analyst Ratings Changes

BMNR has been the topic of several recent analyst reports. Zacks Research upgraded shares of BitMine Immersion Technologies to a “hold” rating in a research report on Friday, October 17th. B. Riley reduced their price target on shares of BitMine Immersion Technologies from $90.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Finally, Cantor Fitzgerald began coverage on shares of BitMine Immersion Technologies in a research note on Monday, January 5th. They issued an “overweight” rating and a $39.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $43.00.

BitMine Immersion Technologies 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.