SG Americas Securities LLC Has $9.80 Million Stake in BitMine Immersion Technologies, Inc. $BMNR

SG Americas Securities LLC grew its stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 90.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 495,356 shares of the company’s stock after acquiring an additional 234,934 shares during the quarter. SG Americas Securities LLC’s holdings in BitMine Immersion Technologies were worth $9,798,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. State of Michigan Retirement System grew its position in shares of BitMine Immersion Technologies by 141.7% in the 4th quarter. State of Michigan Retirement System now owns 145,000 shares of the company’s stock valued at $3,937,000 after purchasing an additional 85,000 shares during the period. ARK Investment Management LLC acquired a new stake in BitMine Immersion Technologies during the 3rd quarter worth approximately $387,907,000. Blue Sky Capital Consultants Group Inc. raised its holdings in 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 buying an additional 74,052 shares during the period. Menard Financial Group LLC bought a new position in BitMine Immersion Technologies in the third quarter valued at approximately $2,595,000. Finally, Vanguard Group Inc. bought a new position in BitMine Immersion Technologies in the third quarter valued at approximately $148,612,000.

BitMine Immersion Technologies Stock Up 1.9%

Shares of BMNR opened at $13.57 on Friday. BitMine Immersion Technologies, Inc. has a twelve month low of $4.07 and a twelve month high of $161.00. The stock has a market capitalization of $7.73 billion and a P/E ratio of -104.37. The company has a 50 day moving average of $19.05 and a 200-day moving average of $22.86.

BitMine Immersion Technologies (NYSE:BMNR) last announced its quarterly earnings data on Tuesday, April 14th. The company reported ($0.08) EPS for the quarter. BitMine Immersion Technologies had a positive return on equity of 5.59% and a negative net margin of 51,892.77%.The business had revenue of $11.04 million during the quarter. On average, sell-side analysts anticipate that BitMine Immersion Technologies, Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BMNR. Weiss Ratings assumed coverage on shares of BitMine Immersion Technologies in a report on Friday, April 17th. They issued a “sell (d-)” rating for the company. Cantor Fitzgerald upgraded shares of BitMine Immersion Technologies to a “strong-buy” rating in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, BitMine Immersion Technologies presently 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.