Mozayyx Management LLC Invests $90.50 Million in BitMine Immersion Technologies, Inc. $BMNR

Mozayyx Management LLC bought a new stake in BitMine Immersion Technologies, Inc. (NYSE:BMNR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,333,333 shares of the company’s stock, valued at approximately $90,500,000. BitMine Immersion Technologies makes up approximately 71.0% of Mozayyx Management LLC’s portfolio, making the stock its largest position.

A number of other institutional investors and hedge funds also recently modified their holdings of BMNR. Strategic Advocates LLC bought a new stake in BitMine Immersion Technologies during the third quarter worth $27,000. Financial Life Planners purchased a new position in BitMine Immersion Technologies in the third quarter worth $37,000. Larson Financial Group LLC bought a new position in BitMine Immersion Technologies in the 3rd quarter valued at $37,000. Northwestern Mutual Wealth Management Co. bought a new position in BitMine Immersion Technologies in the 3rd quarter valued at $38,000. Finally, Ankerstar Wealth LLC bought a new position in BitMine Immersion Technologies in the 4th quarter valued at $27,000.

BitMine Immersion Technologies Stock Up 0.2%

Shares of BMNR stock opened at $16.17 on Friday. The firm has a market cap of $9.21 billion and a P/E ratio of -124.37. The company has a 50 day moving average of $19.77 and a 200-day moving average of $23.51. BitMine Immersion Technologies, Inc. has a 12-month low of $3.92 and a 12-month high of $161.00.

BitMine Immersion Technologies (NYSE:BMNR) last posted its quarterly earnings data on Tuesday, April 14th. The company reported ($0.08) EPS for the quarter. BitMine Immersion Technologies had a negative net margin of 51,892.77% and a positive return on equity of 5.59%. The firm had revenue of $11.04 million during the quarter. As a group, equities analysts expect that BitMine Immersion Technologies, Inc. will post 0.29 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on BMNR. B. Riley Financial lowered their target price on BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Weiss Ratings initiated coverage on shares of BitMine Immersion Technologies in a report on Friday, April 17th. They issued a “sell (d-)” rating on the stock. Finally, Cantor Fitzgerald upgraded shares of BitMine Immersion Technologies to a “strong-buy” rating in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, BitMine Immersion Technologies currently has a consensus rating of “Moderate Buy” and a consensus 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.