BitMine Immersion Technologies, Inc. $BMNR Stock Holdings Boosted by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 65.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,384,840 shares of the company’s stock after acquiring an additional 1,336,706 shares during the quarter. Geode Capital Management LLC owned 0.74% of BitMine Immersion Technologies worth $91,940,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State of Michigan Retirement System boosted its stake in shares of BitMine Immersion Technologies by 141.7% during the 4th quarter. State of Michigan Retirement System now owns 145,000 shares of the company’s stock worth $3,937,000 after acquiring an additional 85,000 shares in the last quarter. ARK Investment Management LLC bought a new stake in shares of BitMine Immersion Technologies during the 3rd quarter worth $387,907,000. Blue Sky Capital Consultants Group Inc. boosted its stake in shares of BitMine Immersion Technologies by 340.5% during the 4th quarter. Blue Sky Capital Consultants Group Inc. now owns 95,799 shares of the company’s stock worth $2,601,000 after acquiring an additional 74,052 shares in the last quarter. Menard Financial Group LLC bought a new stake in shares of BitMine Immersion Technologies during the 3rd quarter worth $2,595,000. Finally, Vanguard Group Inc. bought a new stake in shares of BitMine Immersion Technologies during the 3rd quarter worth $148,612,000.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BMNR shares. Cantor Fitzgerald raised BitMine Immersion Technologies to a “strong-buy” rating in a research note on Thursday, April 9th. B. Riley Financial reduced their price objective on 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. Finally, Weiss Ratings started coverage on BitMine Immersion Technologies in a research note on Friday, April 17th. They set a “sell (d-)” rating for the company. Two 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.50.

BitMine Immersion Technologies Stock Down 10.9%

BMNR opened at $15.94 on Friday. The stock has a fifty day moving average of $20.46 and a 200-day moving average of $24.48. The firm has a market capitalization of $9.08 billion and a P/E ratio of -122.58. 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 released its earnings results on Tuesday, April 14th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $11.04 million during the quarter. BitMine Immersion Technologies had a negative net margin of 51,892.77% and a positive return on equity of 5.59%. On average, analysts expect that BitMine Immersion Technologies, Inc. will post 0.29 earnings per share for the current fiscal year.

About BitMine Immersion Technologies

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.