40,381 Shares in BitMine Immersion Technologies, Inc. $BMNR Acquired by J. Derek Lewis & Associates Inc.

J. Derek Lewis & Associates Inc. acquired a new stake in BitMine Immersion Technologies, Inc. (NYSE:BMNR) in the 4th quarter, Holdings Channel reports. The firm acquired 40,381 shares of the company’s stock, valued at approximately $1,096,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMNR. Morgan Stanley boosted its position in BitMine Immersion Technologies by 25.8% during the fourth quarter. Morgan Stanley now owns 12,197,071 shares of the company’s stock worth $331,151,000 after purchasing an additional 2,500,368 shares in the last quarter. Marex Group plc increased its position in shares of BitMine Immersion Technologies by 560.1% in the fourth quarter. Marex Group plc now owns 10,024,103 shares of the company’s stock valued at $272,154,000 after buying an additional 8,505,421 shares in the last quarter. ARK Investment Management LLC raised its stake in shares of BitMine Immersion Technologies by 26.6% during the 4th quarter. ARK Investment Management LLC now owns 9,457,330 shares of the company’s stock worth $256,767,000 after buying an additional 1,987,517 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of BitMine Immersion Technologies by 29.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,916,195 shares of the company’s stock worth $133,475,000 after buying an additional 1,131,556 shares during the last quarter. Finally, Amova Asset Management Americas Inc. boosted its position in shares of BitMine Immersion Technologies by 29.9% in the 4th quarter. Amova Asset Management Americas Inc. now owns 4,911,524 shares of the company’s stock worth $133,397,000 after buying an additional 1,129,706 shares in the last quarter.

Wall Street Analyst Weigh In

BMNR has been the topic of a number of research reports. Weiss Ratings initiated coverage on shares of BitMine Immersion Technologies in a research note on Friday, April 17th. They issued a “sell (d-)” rating on the stock. Cantor Fitzgerald raised shares of BitMine Immersion Technologies to a “strong-buy” rating in a report on Thursday, April 9th. Finally, B. Riley Financial lowered their price target on shares of BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, BitMine Immersion Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $34.50.

BitMine Immersion Technologies Stock Up 0.2%

NYSE BMNR opened at $16.17 on Friday. BitMine Immersion Technologies, Inc. has a fifty-two week low of $3.92 and a fifty-two week high of $161.00. The stock has a market cap of $9.21 billion and a price-to-earnings ratio of -124.37. The business has a fifty day moving average of $19.77 and a 200-day moving average of $23.51.

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

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.