Certuity LLC Takes $9.36 Million Position in BitMine Immersion Technologies, Inc. $BMNR

Certuity LLC bought a new stake in BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) in the 3rd quarter, Holdings Channel reports. The firm bought 180,155 shares of the company’s stock, valued at approximately $9,355,000.

A number of other institutional investors have also added to or reduced their stakes in BMNR. ARK Investment Management LLC bought a new stake in BitMine Immersion Technologies during the third quarter worth $387,907,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of BitMine Immersion Technologies in the 3rd quarter valued at about $196,536,000. Amova Asset Management Americas Inc. bought a new position in shares of BitMine Immersion Technologies in the 3rd quarter valued at about $196,503,000. Vanguard Group Inc. acquired a new position in shares of BitMine Immersion Technologies during the 3rd quarter worth about $148,612,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of BitMine Immersion Technologies in the 3rd quarter valued at about $102,517,000.

BitMine Immersion Technologies Trading Down 2.4%

Shares of NYSEAMERICAN BMNR opened at $20.55 on Friday. The business’s 50 day moving average is $24.39 and its 200-day moving average is $36.41. BitMine Immersion Technologies, Inc. has a 1-year low of $3.20 and a 1-year high of $161.00.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. B. Riley Financial cut their target price on shares of BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Cantor Fitzgerald began coverage on BitMine Immersion Technologies in a research note on Monday, January 5th. They issued an “overweight” rating and a $39.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $34.50.

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.