London & Capital Asset Management Ltd Takes Position in BitMine Immersion Technologies, Inc. $BMNR

London & Capital Asset Management Ltd bought a new position in shares of BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 71,000 shares of the company’s stock, valued at approximately $3,687,000.

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

BitMine Immersion Technologies Price Performance

Shares of BitMine Immersion Technologies stock opened at $18.98 on Monday. BitMine Immersion Technologies, Inc. has a 52 week low of $3.20 and a 52 week high of $161.00. The business has a 50 day moving average price of $25.89 and a 200-day moving average price of $38.28.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last announced its quarterly earnings results on Tuesday, January 13th. The company reported ($0.05) earnings per share (EPS) for the quarter. The company had revenue of $2.29 million for the quarter. BitMine Immersion Technologies had a positive return on equity of 7.89% and a negative net margin of 67,546.19%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald started coverage on BitMine Immersion Technologies in a research report on Monday, January 5th. They set an “overweight” rating and a $39.00 target price on the stock. B. Riley Financial lowered their price objective on shares of BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $34.50.

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.