BitMine Immersion Technologies, Inc. $BMNR Shares Bought by Lee Johnson Capital Management LLC

Lee Johnson Capital Management LLC increased its stake in shares of BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) by 1,014.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,552 shares of the company’s stock after buying an additional 59,671 shares during the quarter. Lee Johnson Capital Management LLC’s holdings in BitMine Immersion Technologies were worth $1,780,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. ARK Investment Management LLC acquired a new position in shares of BitMine Immersion Technologies during the 3rd quarter valued at about $387,907,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in BitMine Immersion Technologies during the third quarter worth about $196,536,000. Amova Asset Management Americas Inc. purchased a new position in BitMine Immersion Technologies during the third quarter worth about $196,503,000. Vanguard Group Inc. acquired a new position in BitMine Immersion Technologies in the 3rd quarter valued at about $148,612,000. Finally, Pantera Capital Partners LP acquired a new position in BitMine Immersion Technologies in the 3rd quarter valued at about $122,036,000.

BitMine Immersion Technologies Price Performance

Shares of BMNR opened at $20.80 on Wednesday. The company’s 50-day simple moving average is $22.83 and its 200-day simple moving average is $34.97. 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 announced its quarterly earnings data on Tuesday, January 13th. The company reported ($0.05) earnings per share 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 business had revenue of $2.29 million during the quarter.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. B. Riley Financial lowered their price objective on BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Cantor Fitzgerald started 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. Two investment 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average 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.