MGO One Seven LLC Invests $1.12 Million in BitMine Immersion Technologies, Inc. $BMNR

MGO One Seven LLC bought a new stake in shares of BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,611 shares of the company’s stock, valued at approximately $1,122,000.

Several other large investors have also recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in shares of BitMine Immersion Technologies in the 2nd quarter valued at about $374,000. Lauer Wealth LLC purchased a new stake in shares of BitMine Immersion Technologies in the second quarter valued at approximately $363,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of BitMine Immersion Technologies during the 2nd quarter worth approximately $508,000. Sassicaia Capital Advisers LLC purchased a new position in shares of BitMine Immersion Technologies during the 2nd quarter valued at approximately $1,570,000. Finally, Marex Group plc purchased a new position in shares of BitMine Immersion Technologies during the 2nd quarter valued at approximately $465,000.

BitMine Immersion Technologies Trading Down 5.5%

Shares of BitMine Immersion Technologies stock opened at $30.87 on Friday. BitMine Immersion Technologies, Inc. has a 52 week low of $3.20 and a 52 week high of $161.00. The company has a fifty day simple moving average of $32.23.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last posted its quarterly earnings data on Tuesday, January 13th. The company reported ($12.74) earnings per share for the quarter. BitMine Immersion Technologies had a positive return on equity of 7.89% and a negative net margin of 67,546.19%.The company had revenue of $2.29 million for the quarter.

BitMine Immersion Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BMNR. B. Riley lowered their price objective on BitMine Immersion Technologies from $90.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Cantor Fitzgerald assumed coverage on 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. Finally, Zacks Research raised BitMine Immersion Technologies to a “hold” rating in a research note on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $43.00.

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.