Van ECK Associates Corp Buys New Stake in BitMine Immersion Technologies, Inc. $BMNR

Van ECK Associates Corp acquired a new position in shares of BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,576,084 shares of the company’s stock, valued at approximately $81,846,000.

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

Analyst Upgrades and Downgrades

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

BitMine Immersion Technologies Price Performance

BitMine Immersion Technologies stock opened at $20.73 on Wednesday. The stock has a fifty day moving average of $24.64 and a two-hundred day moving average of $36.63. BitMine Immersion Technologies, Inc. has a fifty-two week low of $3.20 and a fifty-two week high of $161.00.

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

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.